TSX: ANX TSX:ANX Productio tion Cash h Flow w Exploratio - PowerPoint PPT Presentation

TSX: ANX TSX:ANX Productio tion · Cash h Flow w · Exploratio tion · Growth wth A Growin wing g Gold Pro roducer in in Atlan antic ic Ca Cana nada NOVEMBER 2019 From the ground up

Caut autionary ary N Not ote Re Regard rding F For orward ard-Lo Look oking I Inf nform ormation TSX:A TS :ANX This presentation contains statements which constitute “forward-looking information” within the meaning of applicable securities laws, including statements regarding the plans, intentions, beliefs and current expectations of Anaconda Mining Inc. with respect to future business activities and operating performance. Forward-looking information is often identified by the words “may”, “would”, “could”, “should”, “will”, “intend”, “plan”, “anticipate”, “believe”, “estimate”, “expect” or similar expressions and include information regarding: (i) the amount of future production over any period; (ii) assumptions relating to revenues, operating cash flow and other revenue metrics set out in the Company's disclosure materials; and (iii) future exploration and development plans. Investors are cautioned that forward-looking information is not based on historical facts but instead reflect management’s expectations, estimates or projections concerning future results or events based on the opinions, assumptions and estimates of management considered reasonable at the date the statements are made. Although Anaconda Mining believes that the expectations reflected in such forward-looking information are reasonable, such information involves risks and uncertainties, and undue reliance should not be placed on such information, as unknown or unpredictable factors could have material adverse effects on future results, performance or achievements of the combined company. Among the key factors that could cause actual results to differ materially from those projected in the forward looking information are the following: the requirement for additional funding for development and exploration; the fluctuating price of gold; success of exploration, development and operations activities; health, safety and environmental risks and hazards; uncertainty in the estimation of mineral reserves and mineral resources; replacement of depleted mineral reserves; the potential of production and cost overruns; obligations as a public company; risks relating to government and taxation regulation; volatility in the market price of the Company’s securities; risks relating to title and First Nations; risks relating to the construction and development of new mines; risks relating to the dependence of the Company on outside parties and key management personnel; and risks in the event of a potential conflict ofinterest. This information is qualified in its entirety by cautionary statements and risk factor disclosure contained in filings made by Anaconda Mining Inc., including Anaconda Mining’s annual information form, financial statements and related MD&A for the year ended December 31, 2018, all available at www.sedar.com. Should one or more of these risks or uncertainties materialize, or should assumptions underlying the forward-looking information prove incorrect, actual results may vary materially from those described herein as intended, planned, anticipated, believed, estimated or expected. Although the Company 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. Anaconda Mining does not intend, and does not assume any obligation, to update this forward-looking information except as otherwise required by applicablelaw. Use of of No Non-IFRS RSMeasures This Presentation may from time to time refer operating cash costs per ounce sold, all-in sustaining costs per ounce of gold sold, and earnings before income taxes, depreciation and amortization (“EBITDA”), because certain readers may use this information to assess the Company’s performance and also to determine the Company’s ability to generate cash flow. This data is furnished to provide additional information and are non-IFRS measures and do not have any standardized meaning prescribed by International Financial Reporting Standards (“IFRS”). These measures should not be considered in isolation as a substitute for measures of performance prepared in accordance with IFRS and are not necessarily indicative of operating costs presented under IFRS. Refer to the Company’s most recent MD&A for the definition and reconciliation of thesemeasures. All dollar Al ar amount unts in in thi his presentati tation ar are expres essed ed in in Cana nadi dian Dolla llars (C (C$) unl unless otherwi rwise noted ed. 2 From the ground up.

Ov Overvi rview of of Ana Anaco conda M Mini ning TS TSX:A :ANX Point nt R Rous usse Co Compl plex • Nine (9) 9) y years s of gold d produc uctio ion i in n the he top tier m mini ning j jur uris isdic iction of Atlant ntic C c Canada • Robust balance nce sheet eet and nd c cont ntin inued f free c cash h flow g gene neration • Es Established platform for g or gro rowth, t , targ argeting 100, 0,000 o 000 oz of go gold product uction n in 3 n 3-5 year ars Go Goldboro Go Gold Project 3 From the ground up.

Expe perienced ed Mi Mini ning & g & Fina nancial Tea Team TSX:A TS :ANX Technica chnical Advisory ory Commi mmittee ee Boar Board of of Di Directo tors Executive ve Managemen ement Tea Team Jo Jonathan Fi Fitzgerald ( (Chairm rman) Keit ith Bullock ock, P. P.Eng. Kev evin Bullo lock Former Chair & CEO of Orex Exploration Inc Ex - Glencore (Falconbridge), Mining Lead for Onaping President and CEO, Director Depth and Nickel Rim Depth projects Kevi vin B Bullock President and CEO, Director Glen enn D Dobb bby, P P.En Eng and d PhD Ro Rober ert Dufour ur Metallurgical engineering. Co-owner of Woodgrove Chief Financial Officer Michael By Mi Byron Technologies, a minerals technology company President & CEO of Nighthawk Gold Corp. Lewi ewis L Lawr wrick ck Je Jean-Pierre Landry Gordana na Slepce cev President and Chief Executive Officer, Registered Civil Engineer; Former director of Orex Chief Operating Officer Exploration Inc. Magna Terra Resources Inc. Jacqu cques es L Leves esque Paul ul McNei eill Former CFO of Orex Exploration, Inc. Vice President, Exploration Maruf Raza Ma aza Partner at MNP LLP Execu xecutive t e tea eam h has ov over er 1 100 y yea ears rs of of cu cumulative exper e experience i e in mining, wi with a a track r record ecord of of running s safe fe, pr profi ofitable opera e operations. s. • • Exper erien ence ce i in acqu quiring, d developi ping, g, a and o operating m mining p g projec ects globally. • Board a and M Mana nagement nt c collectively ly o own 7% of Ana naconda M Mining. 4 From the ground up.

Cor orpor porate S Struc ucture TSX:A TS :ANX Share arehol olders rs Symbo mbol Mar arket C t Cap apital talizati ation on TSX: SX: ANX NX Ins nstitut utions ns $27. 7.0M OTCQX QX: ANXGF XGF 19% 7% Mgt gt & & Boar ard Cash Po sh Posi sition 4 Sh Shar aresOutstand nding ng Retai ail $7. 7.0M 135 35.0M 74% Options ns 2 2 De Debt 5 7.8M $4.9 .9M Warra rrants 3 3 Analyst C t Cover erage e Sha hare Pri re Price 1 23.8M $0.20 20 Beac acon S n Secur urities L Ltd • Sha hare re Uni Units MP MPartner ers • 1.9M 52 2 Week eek High/ h/Lo Low Fully D Dilut uted d $0. 0.18 18 - $0. 0.355 55 1 – Closing price as at November 4, 2019 168 68.5M 2– Weighted average exercise price for the outstanding stock options is $0.28. 3– Weighted average exercise price for the outstanding warrants is $0.42. 4– As at September 30, 2019, Anaconda had an unused line of credit of $1.0M, cash of $7.0M and total liquidity of $8.0M. 5– As at September 30, 2019, current debt was $3.1M and non-current debt was $1.8M. 5 From the ground up.

Miner eral al Resou ourc rce Plan an TS TSX:A :ANX Cate ategory Tonnes nes Gr Grade (g/ g/t) Oun unces (Au) u) Goldboro 1 Open Pit M+I 955,000 2.43 74,600 Underground - M+I 3,141,000 6.18 624,000 Resources Open Pit - Inferred Resources 22,000 2.79 2,000 Underground - Inferred 2.985,000 7.12 683,200 Resources Point Rousse 2 Indicated Resources 1,610,600 2.30 119,570 Inferred Resources 1,245,300 1.95 78,090 Tot Total l M+I +I Res Resources 818, 8,170 70 Tot Total l Infe ferre red Res esources es 763,290 763 * 2017 Reflects a seven-month stub year ending December 31,2017 1. Updated Mineral Resource Estimate as announced on Oct 31, 2019 for the Goldboro Gold Project. ** Based on the Measured and Indicated Mineral Resources from the “NI 43-101 Technical Report, Mineral Resource and Mineral Reserve Update on the 2. Based on the Measured and Indicated Mineral Resources from the “NI 43-101 Technical Report, Mineral Point Rousse project Baie Verte, Newfoundland and Labrador, Canada”. Effective Date: December 31, 2017. Resource and Mineral Reserve Update on the Point Rousse project Baie Verte, Newfoundland and *** Based on the NI 43-101 Report “Goldboro Project: Mineral Resource Update and Preliminary Economic Assessment”. Resource Effective Date: July Labrador, Canada”. Effective Date: December 31, 2017. 19, 2018. Report Date: December 10, 2018. 6 From the ground up.