Information Deck June 2015 VANCOUVER Head Office Suite 350-885 - - PowerPoint PPT Presentation

VANCOUVER Head Office Suite 350-885 Dunsmuir Street 1.604.629.8213 • ONTARIO Project Office 1000 – Alloy Drive, Thunder Bay

Information Deck

June 2015

KAP: TSX-V | kapuskasinggold.com | kapgold.com

VANCOUVER Head Office Suite 350-885 Dunsmuir Street 1.604.629.8213 • ONTARIO Project Office 1000 – Alloy Drive, Thunder Bay

THE INFORMATION CONTAINED HEREIN HAS BEEN PREPARED TO ASSIST INTERESTED PARTIES IN MAKING THEIR OWN EVALUATION OF KAPUSKASING GOLD (“KAPUSKASING” OR THE “COMPANY”) AND DOES NOT PURPORT TO CONTAIN ALL OF THE INFORMATION THAT A PROSPECTIVE INVESTOR OR PARTNER MAY DESIRE. IN ALL CASES, INTERESTED PARTIES SHOULD CONDUCT THEIR OWN INVESTIGATION AND ANALYSIS OF KAPUSKASING. NEITHER THE COMPANY NOR ANY OF ITS AFFILIATES MAKE ANY REPRESENTATION OR WARRANTY AS TO THE ACCURACY OR COMPLETENESS OF THE INFORMATION PRESENTED. THIS INCLUDES, WITHOUT LIMITATION, ANY ESTIMATES OR PROJECTIONS, AND NEITHER THE COMPANY NOR ITS AFFILIATES SHALL HAVE ANY LIABILITY FOR ANY STATEMENTS (EXPRESSED OR IMPLIED) CONTAINED IN, OR FOR ANY OMISSIONS FROM, THIS PRESENTATION OR ANY OTHER WRITTEN OR ORAL COMMUNICATIONS TRANSMITTED TO THE RECIPIENT HEREOF IN THE COURSE OF ITS EVALUATION OF THE COMPANY, NOR SHOULD ANYTHING CONTAINED HEREIN BE RELIED UPON AS A PROMISE, REPRESENTATION OR WARRANTY REGARDING FUTURE EVENTS OR PERFORMANCE OF THE COMPANY. MOREOVER, THE INFORMATION CONTAINED HEREIN SPEAKS AS OF THE DATE HEREOF; THE COMPANY UNDERTAKES NO OBLIGATION TO UPDATE ANY SUCH INFORMATION. THE ONLY STATEMENTS THAT WILL HAVE ANY LEGAL EFFECT WILL BE THOSE SPECIFICALLY CONTAINED OR REFERRED TO, AND THEN ONLY TO THE EXTENT PROVIDED, IN DEFINITIVE LEGAL DOCUMENTATION. 2

VANCOUVER Head Office Suite 350-885 Dunsmuir Street 1.604.629.8213 • ONTARIO Project Office 1000 – Alloy Drive, Thunder Bay

Share Structure

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Shares Issued and Outstanding Options ($0.10, $0.28) Warrants ($0.10, $0.20) Fully Diluted Institutional Management 25,727,652 1,975,000 10,004,207 37,706,859 ~25% ~10+%

VANCOUVER Head Office Suite 350-885 Dunsmuir Street 1.604.629.8213 • ONTARIO Project Office 1000 – Alloy Drive, Thunder Bay

Advisory Board

Strength, Depth and Contemporary Success

Michael A. Tremblay Mike Tremblay along with Jacques Robert, Dr. David Palmer and the Probe exploration team have been recognized with the "2013 Ontario Prospector of the Year Award" for the Borden Gold Discovery, during the annual awards ceremony held in Sudbury on November 5, 2013. Mike is widely regarded as one of Ontario’s leading prospectors, has been actively exploring the Kap region most of his career and has been involved with a number of discoveries in the area. Robert L. Duess B. Sc. P. Geo:

• Mr. Robert Duess (Bob) is a professional geologist with over 30 years experience in mineral exploration and
• development. Bob was the Canadian project manager for West Timmins Mining Inc. prior to its acquisition by Lake

Shore Gold in the fall of 2009. In his role with West Timmins, and in his previous role as Vice President of Band-Ore Resources for over 15 years, Mr. Duess was instrumental in the early development of the West Timmins area, including the discovery of the Golden River Trend and the acquisition of the Thunder Creek Property which now hosts the high grade Thunder Creek Gold deposit. Bob currently acts as a technical advisor to Balmoral Resources Ltd., and was also involved as an officer and/or director of several other companies including Lateegra Gold Corp, Trelawney Mining and Exploration, and Lakeland Resources Inc. Most recently, Bob was instrumental in the formation and financing of GTA Resources and Mining Inc., and currently serves as Vice President and director of GTA. Darin Wagner, M. Sc., P.Geo:

• Mr. Darin W. Wagner has been the President and Chief Executive Officer of Balmoral Resources Ltd since its

inception in 2010. He has over 20 years experience in mineral exploration, development and management. Darin served as President and CEO of West Timmins Mining Inc. from September 2005 to its sale to Lake Shore Gold in November of 2009 following the discovery of the Thunder Creek gold deposit in Timmins. Prior to that he served as Manager of Exploration for Platinum Group Metals Ltd. from 2000 to 2005. Darin also spent 10 years working with the exploration departments of Noranda and Cominco, previously two of Canada's largest mining companies. On November 13, 2013, Darin and Balmoral's exploration team were recognized as the "Prospectors of the Year" in the Province of Quebec for their Bug Lake and related gold discoveries on the Company's Detour Gold Trend Project.

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VANCOUVER Head Office Suite 350-885 Dunsmuir Street 1.604.629.8213 • ONTARIO Project Office 1000 – Alloy Drive, Thunder Bay

Advisory Board

Strength, Depth and Contemporary Success

Wayne Reid, BSc. Geo, P.Geo:

• Mr. Wayne Reid has been the Chief Executive Officer and President of GTA Resources and Mining Inc. since

December 1, 2012. Wayne serves as Vice President of Corporate Development at Metals Creek Resources Corp. He served as Exploration Manager for St. Andrew Goldfields, Canadian Exploration Manager for Echo Bay Mines, as well as District Manager for Noranda Exploration and Hemlo Gold Mines Inc. Wayne has over 30 years experience in exploration and mining geology, spanning a variety of Canadian geological terrains, from Newfoundland to Northern B.C. and Alaska. Wayne was instrumental in the discovery of the Brewery Creek Gold Deposit in the Yukon Territory and the Boundary Massive Sulphide Deposit / Duck Pond Mine in Central Newfoundland. Brian Atkinson, P.Geo: With over 30 years of geological expertise developed with the Ontario Geological Survey as Regional Resident Geologist in Timmins and Red Lake, Brian brings a wealth of knowledge and field experience as geological advisor. With specific and focused knowledge of Archean greenstone belts including the Kapuskasing Structural Zone, his insight is a significant contribution to understanding gold and other mineral deposits in diverse terrains. His intimate knowledge of gold deposits in the Timmins belt will help the Company prioritize the numerous gold targets identified

• n the Kapuskasing properties.

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VANCOUVER Head Office Suite 350-885 Dunsmuir Street 1.604.629.8213 • ONTARIO Project Office 1000 – Alloy Drive, Thunder Bay

Management & Directors

Corporate Depth and Experience

Dean Nawata – President & CEO, Director

• Mr. Nawata has over 18 years of public market experience, nine of which he spent as a licensed stockbroker

focusing on financing of junior mining and oil/gas projects with Nesbitt Burns, Research Capital Corporation, and Raymond James. Mr. Nawata currently holds a position in Business Development for 49 North Resources Inc. -- a resource investment, financial, managerial and geological advisory, and merchant banking Corporation listed on the TSX Venture Exchange. He is also currently the CFO of Red Star Capital Ventures and sits on the boards of Prima Fluorspar and Greywacke Exploration. Andrew Davidson, CA – CFO, Director

• Mr. Davidson is a chartered accountant with a long history in the reporting and compliance aspects of Canadian

listed entities, and has extensive experience with capital structuring and strategic corporate finance. Currently, Mr. Davidson is the Chief Financial Officer and Secretary for 49 North Resources Inc., (TSX-V “FNR”) and is also an

• fficer and/or director of several other public and private companies, including Gespeg Copper Resources Inc.,

Omineca Mining and Metals Ltd., Prima Fluorspar Corp., all of which are listed on the TSX Venture Exchange. Garry Clark, B.Sc., P.Geo. - Exploration Manager, Director

• Mr. Clark, is a Qualified Person (P. Geo. – Ontario) under NI 43-101. Mr. Clark brings a wealth of experience,

knowledge and skills to the Company having focused the majority of his career in northern Ontario. He has held various exploration positions with both major and junior explorers since the late 1980's. Mr. Clark has been the Executive Director of the Ontario Prospectors Association (OPA) since its restructuring in 2000 and has been a Director, Vice President or President of the OPA since its formation in the early 1990's. The Ontario Prospectors Association is focused on providing the mineral explorers of Ontario a stronger voice for issues that affect them. Mr. Clark serves on various provincial government committees and boards that support mineral explorers. Some of these include the Minister of Mines Mining Act Advisory Committee and Ontario Geological Survey Advisory Board.

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VANCOUVER Head Office Suite 350-885 Dunsmuir Street 1.604.629.8213 • ONTARIO Project Office 1000 – Alloy Drive, Thunder Bay

Management & Directors

Corporate Depth and Experience

John Kiernan, P.Eng. – Director

• Mr. Kiernan is a mining engineer with more than 25 years mine operation, engineering, corporate and financial

experience. He currently holds the position of VP Project Development for Magellan Minerals and prior to which was the Manager Project Evaluation, QuadraFNX/KGHM International (‘09 – ’12), Mining Analyst, PI Financial Corp (‘07 – ’09) and VP Mining/Mine Manager Roca Mines Inc. He has also held various senior Mining Engineer positions with Wardrop, AMEC and Inco from 1987 – 2004. Jonathan (Jon) Armes, Director

• Mr. Armes has been a director, and the president and chief executive officer of Lakeland Resources Inc. since Aug.

12, 2010. Mr. Armes has provided corporate development and investor relations services to mining exploration companies for over 15 years including Band-Ore Resources Ltd. (now part of Lake Shore Gold Corp.), and Trelawney Mining and Exploration Inc. Mr. Armes graduated from the University of Guelph in 1993 with a bachelor

• f applied science degree.

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VANCOUVER Head Office Suite 350-885 Dunsmuir Street 1.604.629.8213 • ONTARIO Project Office 1000 – Alloy Drive, Thunder Bay

Goldcorp’s New Gold Camp

Goldcorp Acquires Borden Gold Deposit in Early 2015

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[ _ [ _ [ _ [ _ [ _ [ _ [ _ [ _

" " " " " " "

Hemlo Mines Temex ‐ Juby Gold Argonaut Magino Mine Probe Mines ‐ Borden Gold Wesdome Eagle River Mine Richmont ‐ Island Gold Mine

1 Million oz 3‐4 Million oz >4.0 Million oz >4.0 Million oz Historical Production ‐ 25 Million oz

Hart Gold ‐ Sugar Zone

0.5 Million oz >1.0 Millon oz > 6.0 Million oz

IAMGold ‐ Cote Lake

Wawa Foleyet Timmins Chester Marathon Chapleau Shining Tree

[ _

Deposits Faults Timiskaming Sediments Alkalitic Rock Complex Anorthositic Granulites Metavolcanics Felsic Intrusions

INVANHOE LAKE FAULT R I D O U T F A U L T

Timmins Area 70 Millon oz

K

80 40 Kilometers

Borden North Property Rollo Property Kapuskasing Structural Zone

Lake Superior SAGANASH LAKE FAULT HEMLO FAULT ZONE CADILLAC LARDER LAKE FAULT EXTENSION

VANCOUVER Head Office Suite 350-885 Dunsmuir Street 1.604.629.8213 • ONTARIO Project Office 1000 – Alloy Drive, Thunder Bay

Six Gold Exploration Projects

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• 6 Sets of Gold Exploration Properties
• Underexplored areas with great geology
• Each with its own geological targets
• Around Probe’s multi-million oz. gold

discovery

• Staked by Kapuskasing’s highly

successful team of geologists

Probe Mines

Kapuskasing Gold Projects

6 Sets of Gold Exploration Properties Surrounding Probe

The First 2 Properties Work begins May 2015

VANCOUVER Head Office Suite 350-885 Dunsmuir Street 1.604.629.8213 • ONTARIO Project Office 1000 – Alloy Drive, Thunder Bay

First Sample Assays Find Gold

Late 2014

10 KAPUSKASING GOLD SAMPLES UP TO 7.69 g/t GOLD AND MAKES A NEW GOLD ZONE DISCOVERY IN THE BORDEN LAKE GOLD DISTRICT

December 18, 2014 – Kapuskasing Gold Corp. (TSX-V: KAP) (the “Company” or “Kapuskasing”) is pleased to announce that several significant gold values of up to 7.69 g/t (see table below) gold were returned from a recent prospecting and sampling program conducted on its Rollo and Borden Lake Gold Properties. Several gold occurrences were tested including a newly discovered gold zone that returned 1.36 g/t gold. The new zone has been named the “Tremblay Porphyry” after Mike Tremblay, the Company’s chief prospector and Advisory Board member who made the discovery conducting this program. Both of these properties are located near the Borden Lake Gold Deposit of Probe Mines Ltd. in Northern Ontario near the town of Chapleau. “Kapuskasing Gold is extremely encouraged by the first pass exploration results from the Rollo and Borden North properties”, stated Dean Nawata, President and CEO of the Company. “These gold values confirm that both the Rollo and Borden North properties host potentially large pregnant gold systems which require further evaluation. We are excited to advance these projects to the drill testing stage as soon as possible.”

Number'of'Samples' Range'of'PPB'GOLD' Grams'Gold'per'Tonne' 34' <100' ' 8' 100'to'<300' ' 4' 300'to'<1000' ' 6' >1000' 1.00,'1.36,'1.52,'3.15,'3.66,' 7.69'

'

Number'of'Samples' Range'of'PPB'GOLD' 16' <5' 8' 40' 1' 80' 1' 200'

'

Rollo Borden North

VANCOUVER Head Office Suite 350-885 Dunsmuir Street 1.604.629.8213 • ONTARIO Project Office 1000 – Alloy Drive, Thunder Bay

Work Resumes at Borden North

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Prospecting & Sampling May 2015 Several Kilometers of Mineralized Zone Uncovered And Sampled

VANCOUVER Head Office Suite 350-885 Dunsmuir Street 1.604.629.8213 • ONTARIO Project Office 1000 – Alloy Drive, Thunder Bay

Borden North Geology

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The Borden North property is situated along the southern flank of the Kapuskasing Structural Zone approximately 50 kilometers northeast of Probe Mines’ Borden Gold project in Northeastern Ontario. It can be reached via Highway 101 from either Wawa or Timmins and then by a series of gravel forest access roads that traverse both claim groups. 2 mineralization targets similar to that of Probe’s Borden Gold project:

• Low grade zone of mainly pyrite and pyrrhotite associated gold mineralization
• High grade zone where the gold is associated with quartz veining rather than sulphides

The Borden North property lies along the southeastern boundary of the Shawmere Anorthosite Complex which, in turn occupies the eastern portion of the Kapuskasing uplift in north central Ontario. The Kapuskasing uplift is a northeasterly striking, 500 km long, Paleoproterozoic thrust structure cutting Archean stratigraphy and exposing high grade gneissic rocks. The target mineralization on the Borden property will be similar to that of the Borden Gold project, situated approximately 60 km to the west-southwest. At Borden Gold, significant gold mineralization occurs within a sequence of feldspar, chlorite and biotite altered metasedimentary horizons and minor felsic to intermediate

• intrusions. Gold is associated with variable amounts of pyrite and pyrrhotite mineralization. There is no

quartz veining associated with the gold mineralization. At Borden Gold the Sharpstone Geoservices Ltd. 43-101 Technical Report Borden North Project 2014 mineralized zone, which ranges up to 170m in true thickness, strikes east-southeasterly, dips -45° to the north and plunges approximately -15° to the east.

*David S. Hunt, P. Geo. March 2, 2014; Technical Report on the Borden North Gold Property – Carty, Evans, Foleyet, Ivanhoe, Pinogami and Warren Townships – Porcupine Mining Division Ontario

VANCOUVER Head Office Suite 350-885 Dunsmuir Street 1.604.629.8213 • ONTARIO Project Office 1000 – Alloy Drive, Thunder Bay

Rollo

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Three Gold Zones Sampled, Up To 7.69 g/t 2015 Program Underway

VANCOUVER Head Office Suite 350-885 Dunsmuir Street 1.604.629.8213 • ONTARIO Project Office 1000 – Alloy Drive, Thunder Bay

Rollo Geology

14 The property is located in the western portion of the Swayze Greenstone Belt of the Abitibi Subprovince, which is host to numerous significant gold occurrences and past producing mines. The project is essentially a grassroots exploration project on a relatively under- explored property, and is based on the concept that the property has the potential to host greenstone-hosted quartz-carbonate gold mineralization similar to that found locally in the area of the Property, elsewhere in the Swayze Greenstone belt and in many other important greenstone belts in the Superior Province. Very little exploration has been done on the Rollo Property to date, with the work being done consisting primarily of airborne geophysics and some prospecting. The geology on the Property as indicated on OGS map P. 3331 (Wilkinson and Harris 1995) and Thurston et al.’s map P. 673 indicates that it is underlain primarily by mafic to intermediate metavolcanics, with numerous granodiorite to granite intrusions up to about 3 km in diameter. A number of roughly north- south trending faults have been interpreted to cross the property in the central portion of the property, and some of the geophysics performed has suggested additional faults and shears at various

• rientations.

*Desmond Cullen, P.Geo. March 1, 2014; Technical Report On the Rollo Property Porcupine Mining Division Northeastern Ontario

The Rollo property is situated within the Destor-Porcupine fault zone, which hosts several million-ounce-plus gold producers in the nearby Timmins camp, and sits between IAMGOLD's Cote Lake gold deposit and Probe Mines’ Borden Gold project. Initial focus will be on known gold occurrences and relationships to Quartz Feldspar Porphyries (QFPs), similar to the world class Timmins camp to the east.

VANCOUVER Head Office Suite 350-885 Dunsmuir Street 1.604.629.8213 • ONTARIO Project Office 1000 – Alloy Drive, Thunder Bay

The Next 4 Exploration Properties

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Probe Mines

Kapuskasing Gold Projects

6 Sets of Gold Exploration Properties Surrounding Probe

VANCOUVER Head Office Suite 350-885 Dunsmuir Street 1.604.629.8213 • ONTARIO Project Office 1000 – Alloy Drive, Thunder Bay

The Next 4 Exploration Properties

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Borden West (9,904 hectares) sits at the southwestern flank of the Kapuskasing Structural Zone, immediately west of the town of Chapleau and 20 km west of Probe’s Borden Gold discovery. The Property covers ground along a projected offset of the structural zone, which hosts the Borden Gold Zone to the southeast. This structural zone has never been drill tested and will be the focus of planned prospecting and future geophysical work prior to drill testing. Access to this property is via gravel forest access roads that run through the claim group. The Schewabik Belt (6,304 hectares) The property hosts strongly altered and metamorphosed rocks interpreted to represent the eastward continuation of the Destor-Porcupine Fault zone within the Kapuskasing Structural zone. Government maps show the area is underlain by migmatized metavolcanic and metasedimentary rocks similar to Probe’s Borden Gold zone. Borden South (4,256 hectares) comprises approximately 4,200 Ha on the southeastern flank of the Kapuskasing uplift, running from a large carbonitite intrusive to the southwest along the Ivanhoe Fault abutting into Probe Mines East Limb property to the northeast. Borden South may be associated with the locally offset portion of the Rideout Shear System which hosts Probe’s Borden Gold and IAMGold’s Cote Lake deposits. Golden Route (1,232 hectares) encompasses approximately 1,200 Ha is situated 10 km southwest

• f Chapleau approximately 20 km southwest of the Borden Gold project. Ontario Government maps

indicate geology similar to the Borden lake area and very limited historic work. These claims are located parallel to Highway 101.

VANCOUVER Head Office Suite 350-885 Dunsmuir Street 1.604.629.8213 • ONTARIO Project Office 1000 – Alloy Drive, Thunder Bay

Head Office Suite 350-885 Dunsmuir Street, Vancouver BC V6C 1N5 1.604.629.8231 Project Office 1000 – Alloy Drive, Thunder Bay ON 1.866.622.3284 Contact Dean Nawata, President 1.604.561.2821 dean.nawata@mac.com Andrew Davidson, Chief Financial Officer 1.306.653.2692 davidson@fnr.ca www.kapuskasinggold.com or www.kapgold.com

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VANCOUVER Head Office Suite 350-885 Dunsmuir Street 1.604.629.8213 • ONTARIO Project Office 1000 – Alloy Drive, Thunder Bay

• MR. GARRY CLARK, THE EXPLORATION MANAGER AND A DIRECTOR OF THE COMPANY, A QUALIFIED PERSON ("QP") AS DEFINED BY NATIONAL

INSTRUMENT 43-101, HAS REVIEWED THE TECHNICAL CONTENT OF THIS PRESENTATION. NEITHER TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICES PROVIDER (AS THAT TERM IS DEFINED IN THE POLICIES OF THE TSX VENTURE EXCHANGE) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS PRESENTATION. FORWARD LOOKING STATEMENTS AND CAUTIONARY NOTES THIS PRESENTATION CONTAINS “FORWARD-LOOKING INFORMATION” WITHIN THE MEANING OF THE CANADIAN SECURITIES LAWS. STATEMENTS, OTHER THAN STATEMENTS OF HISTORICAL FACT, MAY CONSTITUTE FORWARD-LOOKING INFORMATION AND INCLUDE, WITHOUT LIMITATION, STATEMENTS ABOUT: ANTICIPATED TIMING AND CONTENT OF UPCOMING WORK PROGRAMS, GEOLOGICAL INTERPRETATIONS, RECEIPT OF PROPERTY TITLES, AND POTENTIAL MINERAL RECOVERY PROCESSES; ANTICIPATED DATES FOR RECEIPT OF PERMITS, APPROVALS AND OTHER MILESTONES; ANTICIPATED RESULTS OF DRILLING PROGRAMS, FEASIBILITY STUDIES AND OTHER ANALYSES; ANTICIPATED AVAILABILITY AND TERMS OF FUTURE FINANCING; FUTURE PRODUCTION, OPERATING AND CAPITAL COSTS; AND OPERATING OR FINANCIAL PERFORMANCE. INFORMATION CONCERNING MINERAL RESERVE AND RESOURCE ESTIMATES ALSO MAY BE DEEMED TO BE FORWARD-LOOKING INFORMATION IN THAT IT REFLECTS A PREDICTION OF THE MINERALIZATION THAT WOULD BE ENCOUNTERED IF A MINERAL DEPOSIT WERE DEVELOPED AND MINED. WITH RESPECT TO THE FORWARD-LOOKING INFORMATION CONTAINED IN THIS PRESENTATION, THE COMPANY HAS MADE NUMEROUS ASSUMPTIONS REGARDING, AMONG OTHER THINGS, THE GEOLOGICAL, METALLURGICAL, ENGINEERING, FINANCIAL AND ECONOMIC ADVICE THAT THE COMPANY HAS RECEIVED IS RELIABLE, AND IS BASED UPON PRACTICES AND METHODOLOGIES WHICH ARE CONSISTENT WITH INDUSTRY STANDARDS. WHILE THE COMPANY CONSIDERS THESE ASSUMPTIONS TO BE REASONABLE, THESE ASSUMPTIONS ARE INHERENTLY SUBJECT TO SIGNIFICANT UNCERTAINTIES AND CONTINGENCIES. ADDITIONALLY, THERE ARE KNOWN AND UNKNOWN RISK FACTORS WHICH COULD CAUSE THE COMPANY’S ACTUAL RESULTS, PERFORMANCE OR ACHIEVEMENTS TO BE MATERIALLY DIFFERENT FROM ANY FUTURE RESULTS, PERFORMANCE OR ACHIEVEMENTS EXPRESSED OR IMPLIED BY THE FORWARD-LOOKING INFORMATION CONTAINED

• HEREIN. KNOWN RISK FACTORS INCLUDE, AMONG OTHERS: FLUCTUATIONS IN COMMODITY PRICES AND CURRENCY EXCHANGE RATES;

UNCERTAINTIES RELATING TO INTERPRETATION OF DRILL RESULTS AND THE GEOLOGY, CONTINUITY AND GRADE OF MINERAL DEPOSITS; UNCERTAINTY OF ESTIMATES OF CAPITAL AND OPERATING COSTS, RECOVERY RATES, PRODUCTION ESTIMATES AND ESTIMATED ECONOMIC RETURN; THE NEED FOR CO-OPERATION OF GOVERNMENT AGENCIES IN THE EXPLORATION AND DEVELOPMENT OF PROPERTIES AND THE ISSUANCE OF REQUIRED PERMITS; THE NEED TO OBTAIN ADDITIONAL FINANCING TO DEVELOP PROPERTIES AND UNCERTAINTY AS TO THE AVAILABILITY AND TERMS OF FUTURE FINANCING; THE POSSIBILITY OF DELAY IN EXPLORATION OR DEVELOPMENT PROGRAMS OR IN CONSTRUCTION PROJECTS AND UNCERTAINTY OF MEETING ANTICIPATED PROGRAM MILESTONES; UNCERTAINTY AS TO TIMELY AVAILABILITY OF PERMITS AND OTHER GOVERNMENTAL APPROVALS. A MORE COMPLETE DISCUSSION OF THE RISKS AND UNCERTAINTIES FACING THE COMPANY IS DISCLOSED IN THE COMPANY’S CONTINUOUS DISCLOSURE FILINGS WITH CANADIAN SECURITIES REGULATORY AUTHORITIES AT WWW.SEDAR.COM. ALL FORWARD-LOOKING INFORMATION HEREIN IS QUALIFIED IN ITS ENTIRETY BY THIS CAUTIONARY STATEMENT, AND THE COMPANY DISCLAIMS ANY OBLIGATION TO REVISE OR UPDATE ANY SUCH FORWARD-LOOKING INFORMATION OR TO PUBLICLY ANNOUNCE THE RESULT OF ANY REVISIONS TO ANY OF THE FORWARD-LOOKING INFORMATION CONTAINED HEREIN TO REFLECT FUTURE RESULTS, EVENTS OR DEVELOPMENTS, EXCEPT AS REQUIRED BY LAW.

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