Slide 1: Back River Site Tour
Back River Site Tour EXPLORATION PRESENTATION September 26, 2023: Goose Mine, Nunavut
Slide 2: Presentation Outline
BACK RIVER GOLD DISTRICT Presentation Outline: Introduction to Back River History/Growth Profile Discovery of Back River Regional Geology Mineralization Controls Goose Property George Property Boot and Boulder Properties 2023 Drill Budget and Objectives
Slide 3: Back River Gold District
BACK RIVER GOLD DISTRICT Five mineral projects along an 80 km belt, located within the Slave Craton Most advanced mineral property is Goose, the first deposit to be mined, with 8 km of iron formation and multiple deposits defined > All deposits at Goose are open along 8 km of iron formation, providi
Slide 4: Back River Gold District - History
BACK RIVER GOLD DISTRICT - HISTORY 1982-1996: Back River Joint Venture (Trigg, Woollett Olson, Homestake Minerals and Kerr- McGee). Initial exploration primarily at George with minor exploration at Goose, Boulder and Boot 125,000m drilled 1997: Kit Resources 20,000m drilled (primarily George) 1998-2
Slide 5: Goose Property: Discovery
GOOSE PROPERTY: DISCOVERY 1982: George discovered during the Iron Formation ‘rush’ in the North after Lupin discovery 1986: George initial drilling 1991: Goose Main was discovered from a magnetic map 2009: Discovery of Echo based on IP and magnetic destruction 2010 (April): Llama discovered along a
Slide 6: Back River Gold District – Growth Profile
BACK RIVER GOLD DISTRICT – GROWTH PROFILE Nuvuyak, Llama Ext. Llama, Umwelt Echo Goose Main George
Slide 7: Regional Geology
Slave Craton Geology Back River Region Geology REGIONAL GEOLOGY Back River project: ~54,500 ha Regional Stratigraphy >170 km iron formation >80 advanced targets BACK RIVER DEPOSIT STRATIGRAPHY 7
Slide 8: Back River: Stratigraphy (Similar at Goose and George)
BACK RIVER: STRATIGRAPHY (SIMILAR AT GOOSE AND GEORGE) Greywacke and laminated greywacke and siltstone: forms the lower and upper A sedimentary packages typically consisting of thickly bedded massive greywacke interbedded with laminated greywacke and siltstone packages. Mudstone: Dark grey to black,
Slide 9: Back River: Mineralization Controls
BACK RIVER: MINERALIZATION CONTROLS First mineralization event associated with white quartz veins with patches of recrystallized quartz + arsenopyrite Second mineralization event with pyrrhotite + minor quartz veins and zones of disseminated replacement of layers in BIF (banded iron formation) Early
Slide 10: Back River: Mineralization Controls - Goose
BACK RIVER: MINERALIZATION CONTROLS - GOOSE Umwelt Drill Core Llama Umwelt Echo Goose 10
Slide 11: Back River: Local Geology - Goose
BACK RIVER: LOCAL GEOLOGY - GOOSE Iron formation within a northwesterly to westerly striking, steeply-dipping folded belt of coarse clastic sediments > 10 km long and up to 1.5 km wide > Mineralization controlled by parasitic folding in thickened hinge zones Metamorphic grade middle greenschist to l
Slide 12: Goose Project
GOOSE Llama PROJECT Deposit Six Gold Umwelt Deposits Deposit Llama Extension Deposit Nuvuyak Goose Main Folded Banded Deposit Deposit Iron Formation & Quartz Feldspar Porphyry Dykes Plant Umwelt Decline Echo Deposit 12
Slide 13: Goose Project: Open-Ended Exploration Potential
GOOSE PROJECT: OPEN-ENDED EXPLORATION POTENTIAL Llama M &I Resource Umwelt M&I Resource Echo M&I Resource Goose M&I Resource 756,000 oz @ 6.70 g/t Au 2,918,000 oz @ 6.89 g/t Au 183,000 @ 5.78 g/t Au 1,236,000 oz @ 4.45 g/t Au Llama Extension Inferred Resource Open Nuvuyak Inferred Resource 424,000 o
Slide 14: Goose Project: Deposit Geometry and Geology
GOOSE PROJECT: DEPOSIT GEOMETRY AND GEOLOGY Thickened Iron Formation in Fold Zones is Associated with Robust Mineral Zones and Significant Deposit Size Llama Deposit Llama Extension Deposit LEGEND Overburden Gabbro Nuvuyak Deposit Upper iron fm. Mudstone Umwelt Deposit Goose Main Lower iron fm. Depo
Slide 15: Umwelt: High Grade Corridor – V2
UMWELT: HIGH GRADE CORRIDOR – V2 Open pit Legend outline 2022 DDH DDH - Gram Metre Intercepts High Grade Corridor marked by QFP x LIF (100m wide) >200 100-200 40-100 < 40 22GSE607 Main Figure Location 12.59 g/t over 45.05 m, incl. 21.33 g/t over 23.15 m, and 30.38 g/t over 8.00 m 22GSE609 5.80 g/t o
Slide 16: Goose: Umwelt Cross Section – Looking NW
GOOSE : UMWELT CROSS SECTION – LOOKING NW SW NE Umwelt Decline 16
Slide 17: Goose: Umwelt Cross Section – Looking NW
GOOSE : UMWELT CROSS SECTION – LOOKING NW SW NE Umwelt Decline 17
Slide 18: Goose: Llama Cross Section – Looking NW
GOOSE : LLAMA CROSS SECTION – LOOKING NW SW NE Umwelt Decline 18
Slide 19: Nuvuyak & Hook: Resource Growth Opportunity
NUVUYAK & HOOK: RESOURCE GROWTH OPPORTUNITY Oblique 3D View Legend Proposed Open Pit Lower Iron Formation Resource Gold Mineralization Goose Lake Nuvuyak Gold Mineralization Hook Gold Mineralization QFP Trace 2018/2019 Drill Holes Select Drill Holes Nuvuyak Goose Main Maiden Deposit Resource: 583,00
Slide 20: Exploring the Goose Gold Trend
EXPLORING THE GOOSE GOLD TREND ADVANCED TARGETS: DRILL-READY Oblique plan view VTEM B-Field Llama WING KEEL RADAR HACKLES HOOK Deep Future targets Red = Conversion Blue = Extension / Brownfields Green = Exploration / Greenfields Oblique 3D view Multi-kilometer gold trends Significant opportunities a
Slide 21: Back River: Local Geology - George
BACK RIVER: LOCAL GEOLOGY - GEORGE Iron formation within a northwesterly-striking, steeply-dipping belt of coarse clastic sediments > 20 km long and up to 2.5 km wide > Mineralization controlled by shear zone hosted quartz +/- carbonate +/- chlorite +/- sulphide veins within iron formation Three maj
Slide 22: Back River: Mineralization Controls - George
BACK RIVER: MINERALIZATION CONTROLS - GEORGE LCPS Drill Core LCP N LCP S L1 L2 Tupiq GH 22
Slide 23: George Project: Exploration Upside
GEORGE PROJECT: EXPLORATION UPSIDE Red = Conversion Blue = Extension / Brownfields Oblique plan view Green = Exploration / Greenfields N 20 km Oblique 3D view Iron Formation Proterozoic cover Fault N Existing mineral resources (All Resources Open to Depth) + 20 km of prospective Iron Formation • Ind
Slide 24: Boot
BOOT 100 km2 license 129 DDH for 18,000 m Hosts multiple mineralized structures intersecting iron formation Coincident untested Slave geophysical and geochemical anomalies 2023 reconnaissance visit reviewing key showings and structural controls for iron formation 24
Slide 25: Boulder
BOULDER 113 km2 license 89 DDH for 23,000 m South extension of George mineralized iron formation sediments Gold mineralization Slave occurs with pyrite, arsenopyrite and chalcopyrite associated with quartz veins in iron formation and adjacent to felsic dykes 25
Slide 26: Exploration 2023
Exploration 2023 B2Gold Budget of US$ 20.0 Million (CDN $27.0 M) Drilling > George: 6,009m drilled • Spring: 3,316m in 15 holes (Sabina) • Summer: 2,693m in 11 holes (B2Gold) • Exploration drilling • Resource confirmation and testing up plunge and down plunge extensions to known mineralization > Goo
Slide 27: Back River: Exploration Q4 2023 - 2024
BACK RIVER: EXPLORATION Q4 2023 - 2024 20GSE571 Extend resources down plunge and convert inferred resources Addition of metallurgical and geotechnical data through drilling Continued advancement of understanding of mineralization controls in the region Identification of new zones of mineralization 2
Slide 28: Thank You
THANK YOU 28