Alaska Miner Journal, August 2022

Livengood Gold Project in Alaska’s Golden Heart

Updated Pre-Feasibility Study (PFS) in November 2021

Budget of $3.7 million. Continue the focus on metallurgical studies to better dene and rene the project owsheet. 2,000 kg of metallurgical composites being processed: Evaluate the optimum grind size Determine whether dierent recovery parameters should be applied across orebody • • • Whittle Enterprise Optimization to identify optimal project configuration • BBA, Inc. to continue as lead consultant • Updated PFS to be complete in October 2021 • Work plan will further de-risk project Updated Pre-Feasibility Study (PFS) in November 2021 • Mineral resource: 13.6m oz gold at 0.60 g/t. • Gold production: 6.4m oz for 20-year Life of Mine (LOM), annual 317,000 oz. • CAPEX $1.93B, Sustaining Capital $658m. • All-in Sustaining Costs (AISC) years 1-5 $1,038/oz, LOM $1,171/oz. • Direct employment: 800 construction jobs, 331 production jobs. BBA Inc. retained to continue guiding metallurgical program. 2017 PFS showed Improved Project (as compared to 2013 Study) • Project size optimized at 52,600 tons/day • 6.8 million ounces of gold produced over 23 years • All-in Costs (AIC) down more than $250/oz to $1,247/oz We will continue to prepare for futu re potential permitting and construction, while also conducting baseline environmental studies. Livengood Gold Project: highly levered to the gold price with the opportunity to be a successful Alaska gold mine for decades for decades to come. • Production Costs before Capital $878/oz • All-in Sustaining Costs (AISC) $976/oz Project Metrics based on 2017 PFS • 6.8 million ounces of gold produced over 23 years • Production Costs before Capital $878/oz • All-In-Sustaining Costs (AISC) $976/oz • All-In-Costs (AIC) $1,247/oz *April 10, 2017 NI 43-101, Pre-Feasibility Study Livengood Gold Project: highly levered to the gold price with the opportunity to be a successful Alaska gold mine for decades to come. We will continue to prepare for future potential permitting and construction, while also conducting baseline environmental studies.

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