INVESTOR PRESENTATION May 2020 Tatogga Project, Golden Triangle, BC - - PowerPoint PPT Presentation

SLIDE 1

Tatogga Project, Golden Triangle, BC

GTT : T TSX-V

May 2020

INVESTOR PRESENTATION

SLIDE 2

Caut utionary ionary Stat tatement ment Regarding Forward Looking Information

TSXV: GTT 2

Certain statements included in this presentation constitute forward-looking statements, including those identified by the words “proposed”, “will”, anticipate”, “believe”, “plan”, “estimate”, “expect”, “intend”, “may”, “should” and similar words and expressions to the extent they relate to GT Gold Corp. (the “Company”) or its management. The forward-looking statements are not historical facts and are based on current expectations and various estimates, factors and assumptions, and therefore involve known and unknown risks, uncertainties and other factors. Any forward-looking statements represent the Company’s estimates only as of the date of this presentation and should not be relied upon as representing the Company’s estimates as of any subsequent date. The material factors and assumptions that were applied in making the forward-looking statements in this presentation include:

• execution of the Company’s existing plans or exploration programs for its properties, which may change due to changes in the views of the Company, or if new information arises which

makes it prudent to change such plans or programs; and

• the accuracy of current interpretations of geochemical, geophysical, drilling and other exploration results, since new information or new interpretations of existing information may result in

changes in the Company’s expectations. Readers should not place undue reliance on the Company’s forward-looking statements, as the Company’s actual results, performance or achievements may differ materially from any future results, performance or achievements expressed or implied by such forward-looking statements if known or unknown risks, uncertainties

• r other factors affect the Company’s business, or if the Company’s estimates or assumptions prove inaccurate. Therefore, the Company cannot provide any assurance that such forward-

looking statements will materialize. The Company disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.

QA/QC PROCEDURES

GT Gold has implemented a rigorous quality assurance / quality control (QA/QC) program to ensure best practices in sampling and analysis of RC chips and diamond drill core, the complete details of which can be viewed on the Company’s website at http://www.gtgoldcorp.ca/projects/tatogga/ For full details on both Saddle North and Saddle South reverse circulation and diamond drill program assay results widths reported in this presentation, please refer to the corresponding press release available on the Company website at www.gtgoldcorp.ca/news/. All assays are performed by ALS Canada Ltd. (Minerals), with sample preparation carried out at the ALS facility in Terrace, BC, and assays at the North Vancouver laboratory. Assay values are uncut. For gold, fire assays are performed as per ALS protocol Au-AA26 (0.01-100.00 g/t Au) using 50 grams of sample with assays equal to or greater than 5 g/t Au calculated gravimetrically, and lower-grade samples measured by (AA) atomic absorption. All samples that return equal to or greater than 5 g/t Au from initial fire assaying are additionally sent for screen metallic analysis using the remainder of the pulp (~950 grams of sample). This step is taken to ensure that any coarse grained, nugget gold fraction that may have been missed in the fire assays has been captured. GT Gold Corp.’s Qualified Person as defined by National Instrument 43-101 is Michael Skead, FAusIMM, VP Project Development. Mr. Skead has reviewed and approved the technical information in this presentation.

SLIDE 3

➢ ➢

Limited in-person meetings and postponed business travel

➢ ➢ ➢ ➢

Creating a plan to operate while instituting health and safety guidance Supporting the health and safety

• f employees and contractors

Mandated work from home where possible Personnel working on drill core reduced to minimum to maintain 2 m social distancing Monitor the situation closely and maintain communication with Tahltan Central Government Act according to guidelines of BC Office of Provincial Health Abide by all safety protocols established within Tahltan Traditional Territory

IMME MEDI DIATE TE EXPL PLOR ORATIO TION SEASON SON AHEAD AD

HEALTH AND SAFETY

COVID-19 Response Plan

TSXV: GTT 3

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Highw hway y 37 SAD SADDLE LE DISCOVER VERIE IES  287 kV Power Line ne

• Existing

Infrastructure

• Easily

Accessible

• Within Tahltan

Traditional Territory

• Within Prolific

Golden Triangle in BC, Canada TATOGGA PROPERTY

Iskut ut Communit unity

N

TATOGGA PROPERTY

Tier 1 Mining Jurisdiction with Access and Infrastructure

5/14/2020 TSXV: GTT 4

SLIDE 5

Ashwath Mehra Executive Chairman

• +30 years of mining and metals

experience

• Extensive Capital markets expertise

and network of European investors

Shawn Campbell Chief Financial Officer

• +15 years of progressively senior

experience in project and operations financial management

• Most recently served as Head of

Investor Relations with Goldcorp.

Str trong

• ng Management Team and Board of Directors

TSXV: GTT 5

Paul Harbidge President, CEO and Director

• Geologist with +20 years of experience

in mining exploration and development

• Most recently served as Senior Vice

President of Exploration at Goldcorp

James Rutherford Lead Independent Director

• +25 years of experience in

investment banking and investment management

• Served as a Senior Vice

President at Capital Group responsible for mining investments

Renaud Adams Independent Director

• +25 years as global mining

executive and operator

• Currently serving as CEO

and President of New Gold

• Instrumental in Richmont

Mines’ acquisition by Alamos Gold for ~US$700M

Charles Tarnocai Independent Director

• Geologist with +22 years of

experience in international mining and exploration

• PH.D in economic geology
• Most recently served as

VP Corporate Development at Alamos Gold

John L. Pallot Independent Director

• Seasoned executive with

decades of experience across a broad array of industries

• Extensive experience raising

capital for junior mining issuers

Dale Finn Director

• Geologist with +40 years of

experience including 30+ years with Newmont Mining Corporation

• Currently serving as Group

Executive for Near-Mine Exploration in the Americas including eight minesites

Technic hnical al exper ertise tise and a track recor

• rd of
• f value

e creatio ation n

Adrian Reynolds Independent Director

• +30 years of experience in

natural resources sector

• +15 years' experience with

Randgold Resources as part

• f the executive team

strategizing growth from exploration to mid-tier production

Michael Skead VP Project Development

• Geologist with +30 years of

experience in mining exploration and development

• Most recently served as Director of

Geoscience at Newmont Goldcorp

Charles J. Greig VP Exploration

• Geologist with +35 years of

experience working in mining and mineral exploration

• Extensive experience with deposits

in BC’s Golden Triangle

SLIDE 6

Short t Hist story

• ry of Greenfield Value Creation

TSXV: GTT 6

Q4 2016 2017 2018 2019 Q1 2020

Saddle North

Mineral Resource Q2 2020 PEA year end 2020

Saddle North Infill and Expansion Drilling Saddle South Discovery GTT:TSX-V

• pens on

market Saddle North Discovery Saddle North Geological Model

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Attr tracti ctive Ne New Inv nvest estment ment Opp ppor

• rtun

unit ity y with District Upside Potential in Canada

TSXV: GTT 7

• 1. ADVANCE

ANCE SA SADDLE DLE NORTH TH DISC SCOVER ERY

• Saddle North

th gold-ri rich ch copper r porphyry yry syst ystem mineralized to surface and open along strike and at depth

• Geological model completed in Q1 2020 to form

foundation for initial mineral resource estimate in Q2

• Continue ongoing engineering work and studies to

deliver the Preliminary Economic Assessment (PEA) in Q4 2020

• 2. DEVEL

ELOP OP TATOGGA GA PR PROJ OJECT T PI PIPE PELI LINE NE

• Saddle area

highly prospective untested targets adjacent to Saddle discoveries

• Quash

ash Pass ass targe get 5-6 km long strong coincident soil and geophysical anomaly located less than 8 km from Saddle area

• Ad

Additi tional al targe rgets ts identified on prospective 468 km2 property

Clear Dual-focused Strategy to Create Longterm Value

SLIDE 8

Advancing Saddle North

SLIDE 9

ADVANCING SADDLE NORTH

Saddle North Gold-rich Copper Porphyry

2020 Plan to Advance Saddle North Discovery to PEA

✓ Q1: De-risking achieved with initial metallurgical testwork and potential for a simple, conventional flowsheet ✓ Q1: Relog of all historical drillcore to produce geological model: lithology, structure, alteration and mineralization completed

• Q2: Inaugural inferred mineral resource
• Q3: Additional metallurgical testwork
• Q4: Preliminary Economic Assessment

Summary of Mineralization

✓ Well-mineralized envelope of gold-rich copper porphyry with demonstrated continuity in high-grade, southerly-plunging core from surface to highest grades at depth ✓ Mineralized envelope extends ~1,400-1,600 m down-plunge, ~700 m along strike, and has a thickness of ~200-560 m (1,550 m from surface), ✓ System is open at depth and highly prospective targets remain untested along strike to West and East

TSXV: GTT 9

SLIDE 10

TSXV: GTT 10

Sadd ddle le North th: : De-risking with Initial Metallurgical Testwork

Saddle North Mineralization Sample

Au

(g/t)

Ag

(g/t)

Cu

(%)

Fe

(%)

Stot

(%)

• 1. High-

grade core

Head A 0.89 1.55 0.52 6.87 1.85 Head B 0.95 1.55 0.49 6.80 1.87 Head C 0.92 1.58 0.50 6.78 1.74 Average age 0.92 0.92 1.56 1.56 0.50 0.50 6.82 6.82 1.82 1.82

• 2. Broadly

Mineralized Envelope

Head A 0.47 2.20 0.29 5.40 1.83 Head B 0.46 2.40 0.30 5.38 1.81 Head C 0.41 2.20 0.30 5.47 1.84 Average age 0.45 0.45 2.27 2.27 0.30 0.30 5.41 5.41 1.83 1.83

Initi tial al metall etallur urgic ical al te testwork

• rk on compo

posit site sample les s from rom two zones s of minera rali liza zati tion:

• n:
• 1. Deeper high-grade core (>1% CuEq)

✓ Results: recovered 88% of the copper and 67% of the gold in a concentrate grading 24.5% Cu and 32.2 g/t Au

• 2. Broad envelope of mineralization

(>0.25% CuEq) ✓ Results: recovered 75% of the copper and 57% of the gold in a concentrate grading 22.0% Cu and 23.3 g/t Au ✓ Potential for a simple, conventional flowsheet Further comminution testing, with results expected in Q3 2020

• Nine variability samples have been collected and send to ALS Kamloops:
• 5 from potential open pit limits (3 from broad envelope of mineralization + 2 from high-grade core)
• 4 from deeper high-grade core of mineralization with underground mining potential

Testwork conducted by Blue Coast Research Ltd., Parksville, BC.

SLIDE 11

ADVANCING SADDLE NORTH

Geological Model Preparation: Process

41 Saddle North drill holes (31,397 metres) relogged

for lithology, alteration, structure & mineralization over winter 2019/2020

TSXV: GTT 11

• A series of hand drawn cross

sections and level plans were completed for lithology, structure, alteration and mineralization

• Scanned and georeferenced

sections were manipulated using Leapfrog software to create a well-constrained 3D geological model

• Multi-element geochemistry used

to define lithologic breaks

• Geophysical modelling of magnetic

and Induced Polarization data used to delineate various units of lithological, alteration types, and structures

SLIDE 12

TSXV: GTT 12

• 2. Southern Fault
• Well-defined and

very predictable

• Strongly foliated

zone forming the footwall to the known mineralized zone

• Relatively planar
• Marks the southern

contact of porphyritic intrusive rocks with host volcanic rocks

• Characterized by

more brittle fracturing

ADVANCING SADDLE NORTH

Geological Model: Structure & Physical Bounds

Two major structures bound mineralization at Saddle North

• 1. Poelzer Fault

SLIDE 13

P1 P2 P3 P4

ADVANCING SADDLE NORTH

Geological Model: Lithology

TSXV: GTT 13

• Gold-rich copper porphyry

centered on a series of monzodiorite and monzonite intrusions

• Eight lithology phases

defined: six pre-mineralization phases (P0-P5) and two distinct inter-mineralization phases (I1-I2)

• Intrusive complex interpreted

to represent a series of igneous bodies intruded over a relatively short period of time in late Triassic

• Porphyry phases have

significant controls on Au, less so on Cu

Lithology Model

SLIDE 14

Weak Moderate Strong

• Potassic alteration - the dominant

style of alteration associated with intense quartz-magnetite-sulphide A- style quartz vein stockworks that carry higher-grade Au and Cu at Saddle North

• Quartz-Sericite-Pyrite (QSP)

alteration – a moderate to intense hydrothermal alteration found both above and on the shoulders to the potassic core of the system with strong showing in the Poelzer footwall

• Strong correlation between

intensity of potassic alteration and tenor of copper and gold grades

ADVANCING SADDLE NORTH

Geological Model: Alteration

TSXV: GTT 14

SLIDE 15

0.25 % CuEq 0.75 % CuEq 1.5 % CuEq

Lithology

0.25 % CuEq 0.75 % CuEq 1.5 % CuEq

Alteration 3D View

ADVANCING SADDLE NORTH

Geological Model: Copper Equivalent Grade Shells

• Sections and 3D

view looking west- northwest to northwest: showing correlation between copper equivalent grade and alteration (left) and lithology (section at middle, 3D at top)

TSXV: GTT 15

• Clear correlation of Cu and Au grades with potassic alteration (potassium

feldspar, magnetite and sulphide) and lithology phases

Prices used to calculate CuEq and AuEq are, Au: $1,300.00/oz, Ag: $16.00/oz, Cu: $2.60/lb. All values are reported in USD and do not consider metal recoveries.

SLIDE 16

ADVANCING SADDLE NORTH

Next Steps in 2020

TSXV: GTT 16

DESCRIBE

DETERMINING METHODS

• Define methods used

to determine resources (Ordinary kriging, inverse distance squared, polygonal, etc)

SUMMARIZE

ASSUMPTIONS

• Cut-off grade and basis

for determination

• Commodity prices
• Mining and processing

method

• Metallurgical recovery
• Costs related to mining,

processing, and G&A

SUMMARIZE

PARAMETERS

✓ Appropriate geological model for the deposit type

• Bulk density
• Search distances and

minimum samples per block

• Interpolation distances

and directions

DISCUSS

MATERIAL FACTORS

• Any material factors

that could affect the mineral resource estimates (Environmental, permitting, legal, title, socio-economic, political, other factors)

Mineral Resource Estimate and National Instrument 43-101 Technical Report Q2: Expected release of inaugural inferred mineral resource for Saddle North Q3: Results expected from further comminution testing of nine variability samples collected:

• 5 from potential open pit limits (3 from broad envelope of mineralization + 2 from high-grade core)
• 4 from deeper high-grade core of mineralization with underground mining potential

Q4: Anticipated completion of Preliminary Economic Assessment

SLIDE 17

De Developing loping a Project ject Pip ipeline line

SLIDE 18

TSXV: GTT 18

• Porphyry district comparisons show Tatogga upside
• Initial 10,000 m summer diamond drill program

is planned on two high priority target areas: Saddle and Quash Pass

Red d Chris mine Saddle ddle

Tato atogga gga Pro Proper perty

Quash h Pass ss

Anomaly ~3km

+0 +1000 +0 +1000

NW SE

IP chargeability

Red d Chris Saddle ddle North th

3km Cadia 5.5km

Gully Zone Main Zone East Zone OP East Zone UG

Au ppm

0.5 0.4 0.3 0.2 0.1

Ridgeway Big Cadia Cadia Quarry Cadia Hill Little Cadia Cadia East

N

DEVELOPING A PROJECT PIPELINE

2020 Exploring Property Potential

Note: Cadia and Red Chris sections sourced from Newcrest’s Exploration Edge presentation (Jan 20, 2020)

SLIDE 19

500 metres 250

Quash-Pass Plan Map

Base maps:

IP Chargeability, RMI Magnetic Contours, 50 m Elevation Contours, & Streams

.

Projection: UTM NAD 83 Zone 9 Induced Polarization Chargeability

> 25.0 mV/V 6.0 mV/V 5.0 mV/V 4.0 mV/V 3.0 mV/V 2.0 mV/V 0.0 mV/V

RMI Magnetics Contoured

>500 nT 100 nT 50 nT 0 nT <-200 nT

TATOGGA PROPERTY

Saddle North

SADDLE AREA

• More to be Found
• Saddle North, along strike, at depth,

and in the Poelzer Footwall

• Western Geochem, Central and

Southern IP anomalies

• New and Old Targets

from Surface

• TTD064: 7.40 m @

2.28 g/t Au, 0.56% Cu

1 – 5 5 – 10 10 – 25 25 – 50 50 – 75 75 – 100 100 – 150 >150

Au-in-Soil (ppb) Collars Legend

2020 Proposed Past Drilling

SLIDE 20

TATOGGA PROPERTY

Saddle North

500 metres 250

Saddle North

View to South-East

Sections:

IP Chargeability, RTF Magnetics

.

Projection: UTM NAD 83 Zone 9

• New and Old Targets

from Surface

• TTD064: 7.40 m @

2.28 g/t Au, 0.56% Cu

Magnetics Inversion (RTF)

> 500 nT 0 nT

.

< -500 nT

IP Inversion

> 50 mV/v

.

0 mV/V >1

. .

0.75 g/t

. .

0.5 g/t

. .

0.25 g/t

. .

AuEq (g/t)

SADDLE NORTH

• Porphyry: More to be Found
• Susceptibility constrained

magnetic inversion

• Sulfide constrained chargeability

inversion

Hole TTD064

SLIDE 21

6,402,000 mN 430,000 mN 432,000 mN 430,000 mN 432,000 mN Apparent Conductivity (Mobile MT)

> 6.86 mS/m 5.59 mS/m 5.06 mS/m 4.93 mS/m 4.73 mS/m 4.54 mS/m < 3.19 mS/m

Induced Polarization Chargeability

> 25.0 mV/V 6.0 mV/V 5.0 mV/V 4.0 mV/V 3.0 mV/V 2.0 mV/V 0.0 mV/V

TATOGGA PROPERTY

Quash-Pass

QUASH-PASS

• Multielement & Index Signatures
• Large base metal surface

expression

• Multielement zonation and

corridors

500 metres 250

Quash-Pass Plan Map

Base maps:

IP Chargeability, 213 Hz MT, 50 m Elevation Contours, & Streams

.

Projection: UTM NAD 83 Zone 9

• Four Distinct Soil Geochemical Targets
• Main Trend, Silverhead, Central, &

Valleyside

1 – 5 5 – 10 10 – 25 25 – 50 50 – 75 75 – 100 100 – 150 >150

Au-in-Soil (ppb)

SLIDE 22

2019 FIELD SEASON

Respect for Community, Land and Wildlife

• Continuing water quality sampling 2017-2020
• Archaeological surveys of drill and camp sites
• Engaging with TCG Lands Director and the

Tahltan Heritage Resources Environmental Assessment Team

• Flight management plan developed to minimize

disturbance to community and wildlife

SOCIAL RESPONSIBILITY

Working in Tahltan Traditional Territory

TSXV: GTT 22

Tahltan employees Exploration spending in contracts with Tahltan or Tahltan Partner companies Community Sponsorship and Communications Agreement

27% $3M ~$70k

SLIDE 23

TSXV: GTT 23

9.9% Newmont (14.9%) participated in 2 strategic

investments in GT Gold in 2019 5:

• C$17.6M closed on May 29
• C$8.3M closed on December 12

8.9 14.9 11.9 39.6 24.7

% GTT Ownership1

Retail Ross Beaty Institutions Directors & Management

• 1. Source: IR Insight, Cap IQ, Morningstar, direct communication with firms

and SEDI filings to April 20, 2020.

• 2. As at close of day May 14, 2020.
• 3. As at April 20, 2020.
• 4. As at December 31, 2019.
• 5. Refer to press releases dated May 29, 2019 and December 12, 2019.

.

Capitalization and Balance Sheet (C$)

Share Price2 $1.61 Basic Shares Outstanding3 125.9M Options Outstanding3 10.4M Basic Market Capitalization $202.7M Cash4 ~$15.3M Total Debt $0

Analyst Coverage

• Agentis Capital – Michael Gray
• Cormark Securities – to be confirmed (analyst left firm Apr 2020)
• Industrial Alliance – George Topping (initiated May 12, 2020)
• M Partners – Bereket Berhe
• Paradigm Capital – David Davidson
• PI Financial – Chris Thompson
• Stifel GMP – Tyron Breytenbach (initiated Apr 17, 2020)

INVESTOR INFORMATION

Equity Structure & Analyst Coverage

SLIDE 24

TSXV: GTT 24

Advancing Saddle North gold-rich copper porphyry discovery

First drill holes (600 m drilled)

• 2017

Discovery made (8,200 m drilled)

• 2018

Delineation drilling (23,900 m drilled)

• 2019

.......................................................... ....... ✓ Metallurgical results

• 2020

✓ Geological model Ongoing engagement with Tahltan Nation Inferred resource Exploration of new targets Preliminary Economic Assessment

MILESTONES AHEAD

2020 Working Towards a PEA and Project Pipeline

SLIDE 25

App Appen endix dix

SLIDE 26

Systemati tic c Expl plora

• rati

tion

• n: Towards a Geological Model & Project Pipeline

TSXV: GTT 26

Regional Geophysics Geochemistry Drill Testing & Oriented Core Hyperspectral/ Alteration Mapping Mapping Structural Interpretation

Geol

• log
• gic

ical al Mod

• del

Assay Results

SLIDE 27

TSXV: GTT 27

Saddle ddle Sou

• uth

th – 2019 Exploration Drilling

SLIDE 28

Copper pper Outlook tlook – Growing Demand for New Supply

TSXV: GTT 28

1. Source: Wood Mackenzie mining investment presentation at TD Mining Conference in January 2019. 2. Source: RBC Capital Markets report on copper, published May 7, 2018.

Mine ine prod roduction ction and d demand fo for mine e supp pply Mt (for forecast sts s after ter 5% disrup sruption tion allo lowan ance)1

Global copper er supply declines with diminishing long- te term pro roducti ction1,2

,2

• Mine production expected to peak by 2022, creating

structural deficit

• Long-term production affected by decreasing mined

grades and increasing capital intensity Demand fo for copper er is g gro rowing g sustainably3

• Driven by copper’s inherent high-efficiency and environmental

benefits

• Driven by increased demand for electric vehicles and renewable

energy systems

• Green initiatives led by China - with a predicted 50% of total

primary-energy supply coming from renewable sources by 2050

• 3. Source: ICA (International Copper Association) website 2019.

New projects are required to meet future demand growing at ~1.5% p.a.

Pr Project ected ed 5Mt def eficit icit in new copper er mine e supply ly by 2028 as existing production declines and demand continues to grow steadily2

SLIDE 29

PAUL HARBIDGE, PRESIDENT, CEO AND DIRECTOR

Sunlife Plaza 1100 Melville Street, Suite 610 Vancouver, BC V6E 4A6 236-427-4711 www.gt .gtgo goldcorp rp.ca