Slide 1: Cariboo Gold Project – 2023 Feasibility Study
CARIBOO GOLD PROJECT – 2023 FEASIBILITY STUDY NYSE: ODV | TSXV: ODV www.osiskodev.com JANUARY 2023
Slide 2: Cautionary Statements – Forward-Looking Information
CAUTIONARY STATEMENTS CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING INFORMATION This presentation (this "Presentation") contains forward-looking information and forward-looking statements (together, "forward-looking statements") within the meaning of applicable Canadian securities laws and the Unit
Slide 3: Cautionary Statements – Non-IFRS Measures
CAUTIONARY STATEMENTS NON-IFRS MEASURES ODV used in this Presentation, certain non-IFRS measures including, “all-in sustaining cost” or "AISC“ and “total cash cost”. All-in sustaining cost per gold ounce is defined as production costs less silver sales plus general and administrative, exploration, o
Slide 4: Cautionary Statements – Scientific and Technical Information
CAUTIONARY STATEMENTS SCIENTIFIC AND TECHNICAL INFORMATION The scientific and technical information in this Presentation relating to the Cariboo Gold Project is supported by a technical report entitled "NI 43-101 Technical Report – Feasibility Study for the Cariboo Gold Project" which was prepared f
Slide 5: Investment Highlights
INVESTMENT HIGHLIGHTS Building a Premier North American Mid-tier Gold Mining Company HIGH-QUALITY ADVANCED BROWNFIELD PROJECTS IN TIER 1 JURISDICTIONS Assets located in North America with access to brownfield infrastructure benefitting from grid power and skilled labour pools WORLD-CLASS TEAM LED BY
Slide 6: Executing on Our Strategy
EXECUTING ON OUR STRATEGY Path to Building an Intermediate Gold Producer 2023 MILESTONES 2023 YEAR-END STATUS 2024+ STATUS JUNIOR PRODUCER INTERMEDIATE PRODUCER EA PROCESS LAUNCH COMPLETE CARIBOO GOLD COMPLETED PROJECT PERMITTING SHOVEL READY / IN CONSTRUCTION AT LOW CAPEX (BC, CANADA) FINANCING FIN
Slide 7: Executing on Our Strategy – 2023 in Focus
EXECUTING ON OUR STRATEGY – 2023 IN FOCUS Path to Building an Intermediate Gold Producer Q1 2023 Q2 2023 Q3 2023 Q4 2023 ENVIRONMENTAL SECURE ASSESSMENT PERMITTING PROJECT CARIBOO BEGIN COMPLETED COMPLETION FINANCING GOLD PROJECT TARGET FINANCING PROCESS TINTIC INITIAL DECLINE DECLINE RAMP UP TO PRO
Slide 8: Cariboo Feasibility Study at a Glance
CARIBOO FEASIBILITY STUDY AT A GLANCE1 FIRST INITIAL TOTAL GOLD MINE LIFE PRODUCTION CAPITAL RECOVERED1 12 YEARS 2024 (Phase 1) C$137.3 M 1.87 MOZ Phase 1 (1-3); Phase 2 (4-12) 2027 (Phase 2) Expansion C$451.1 M 2.03 Moz Probable Reserves PRODUCTION LOM AISC2 NPV5% | IRR RESOURCES1 (LOM Avg.) (US$1,
Slide 9: Cariboo 2023 Feasibility Study Highlights
CARIBOO 2023 FEASIBILITY STUDY HIGHLIGHTS FS demonstrates that Cariboo will be a large-scale, long-life and profitable gold mine SCALABLE PHASED Minimizing exposure to development risk with flexibility to scale up DEVELOPMENT Phase 1: 1,500 tpd operation at ~73 koz / year (first 3 years) ~164 ko
Slide 10: Location, Location, Location …
LOCATION, LOCATION, LOCATION … PORTAL TO QR MILL LOWHEE ZONE Railroad Proposed Transmission Wells Line Barkerville Quesnel Highway 100% OWNED, FULLY PERMITTED AND OPERATIONAL Produced gold in 2022 QR Mill Mt Polley Mine Gibraltar Mine ODV Mineral Tenure – 155,000 ha property ROADHEADER AT SITE NYSE:
Slide 11: Cariboo 2023 Feasibility Study Summary
CARIBOO 2023 FEASIBILITY STUDY SUMMARY SUMMARY OPERATING RESULTS1 SUMMARY ECONOMIC RESULTS1 (US$1,700/OZ AU) Phase 1 Phase 2 LOM LOM (2024 – 2026) (2027 – 2036) (12 years) (12 years) Ore Mined Mt 1.5 15.2 16.7 Total Revenue C$M $4,126 Throughput tpd 1,500 4,900 4,056 Cumulative Cash Flow (pre-tax)2
Slide 12: Cariboo: Reserves and Resources
CARIBOO: RESERVES AND RESOURCES 2022 PEA MRE1 2023 FEASIBILITY2 MINERAL Tonnes Grade Ounces Tonnes Grade Ounces CATEGORY (Mt) (g/t) (000’s) (Mt) (g/t) (000’s) M&I RESOURCES CONVERSION TO RESERVES PROVEN & PROBABLE – – – 16,703 3.8 2,031 RESERVES MEASURED & INDICATED 27,102 4.0 3,470 14,682 3.3 1,571
Slide 13: Cariboo – Low Capital Intensity & Advanced Versus Peers
CARIBOO – LOW CAPITAL INTENSITY & ADVANCED VERSUS PEERS CAPITAL INTENSITY – NORTH AMERICAN GOLD DEVELOPERS (Development Capex / Annual Gold Production, US$/kozpa) Phased approach with ✓ Low capital intensity low initial capex to first ✓ Peer leading initial construction cost production ✓ Access, inf
Slide 14: Significant Re-Rate Potential
SIGNIFICANT RE-RATE POTENTIAL As Projects De-Risk and Production Scales Up PRICE / NAV – NORTH AMERICAN GOLD DEVELOPERS (PNAV, x) Cariboo de-risking with receipt of permits by Q4 2023 Tintic expected to ramp up to 0.9x bulk mining by Q4 2023 0.9x 0.7x 0.7x 0.7x 0.6x 0.5x 0.5x 0.4x 0.4x 0.4x 0.3x 0.3
Slide 15: Cariboo Benchmarking: Canadian Underground Mines
CARIBOO BENCHMARKING: CANADIAN UNDERGROUND MINES CANADIAN UNDERGROUND GOLD ASSETS: UG MINING COSTS (C$/tonne) vs. GRADE (Au g/t) (C$/tonne, UG mining costs) (g/t Au, gold grade) Development $250 18.0 $235 Producing One of Few Advanced Stage Grade (g/t Au) 16.0 $200 Underground Deposits in Canada $18
Slide 16: Cariboo Gold Project: NPV & IRR Sensitivity Analysis
CARIBOO GOLD PROJECT: NPV & IRR SENSITIVITY ANALYSIS NPV5% SENSITIVITY | AFTER-TAX (C$M)1 IRR SENSITIVITY | AFTER-TAX (%)1 BASE SPOT BASE SPOT CASE GOLD $821 CASE GOLD 31% $715 28% $609 24% 21% $502 17% $394 14% $285 10% $157 $1,400 $1,500 $1,600 $1,700 $1,800 $1,900 $2,000 $1,400 $1,500 $1,600 $1,7
Slide 17: Mine Design Summary
MINE DESIGN SUMMARY Phase 1 production to come from Lowhee, Shaft and Mosquito deposits The vertical extent of all mineable blocks averages ~350 meters Mineralization is open at depth and along strike and between and mineralization has been tested down to 900 meters some deposits due to lack of
Slide 18: Mining Production Profile
MINING PRODUCTION PROFILE MINED TONNES vs. GRADE BY DEPOSIT1 (000’s tonnes mined) (g/t Au, mined grade) 2,000 5.00 4.68 LOWHEE, SHAFT 1,800 4.50 4.36 4.50 AND MOSQUITO 4.21 1,600 4.15 4.00 Expected to be mined Cow 3.87 3.89 in Phase 1 3.69 3.68 3.60 1,400 Valley 3.50 3.40 Mosquito 3.24 3.13 1,200 Sh
Slide 19: Phase I – Large Scale Production at Low Capex
PHASE I – LARGE SCALE PRODUCTION AT LOW CAPEX KEY METRICS AND BENEFITS FLOW SHEET 1,500 tpd initial throughput (first 3 years) Crushing and sorting located at mine site START Reduced capital cost by leveraging existing infrastructure at QR Mill for comminution and leaching Low initial constr
Slide 20: Phase II – Streamlined Expansion to Optimize Mining
PHASE II – STREAMLINED EXPANSION TO OPTIMIZE MINING KEY METRICS AND BENEFITS FLOW SHEET 4,900 tpd expansion throughput Underground primary crushing with conveyor to surface Ore sorting, comminution and flotation conducted at mine site Flotation concentrate processed at QR Mill for further co
Slide 21: Processing Capacity Expansion Potential
PROCESSING CAPACITY EXPANSION POTENTIAL CARIBOO GOLD MINE SITE COMPLEX Phase 1 (years 1-3) Grinding & Flotation STREAMLINED Phase 2 (years 4-12) Ore Sorting (Phase 2) (Phase 1)1 DESIGN THAT Expansion Potential ALLOWS SCALING Office, Ore Sorting Warehouse PROCESSING & Garage (Phase 2) (Phase 1) CAPAC
Slide 22: Nature of Mineralization Favorable to Ore Sorting
NATURE OF MINERALIZATION FAVORABLE TO ORE SORTING Metallurgical testing to date indicates that Cariboo mineralization is well suited for ore sorting Ore Sorting Separates Gold Rich (11.0 g/t1) Host Rock From Unmineralized Sandstone 481 VEIN CORRIDORS Pyrite hosted in quartz veins High Density Materi
Slide 23: Ore Sorter Technology: Illustrative Example
ORE SORTER TECHNOLOGY: ILLUSTRATIVE EXAMPLE Ore sorting provides significant benefits at low opex of ~$1.00 per tonne feed Mine Feed View the ore sorter ORE SORTING IS A (3.72 g/t)(1) technology in action: HERE GREEN TECHNOLOGY 4,900 tpd Significant reduction in energy, water and chemical usage
Slide 24: Up “Grade” Process
UP “GRADE” PROCESS1 Average estimated uncapped length weighted grade of quartz veins in vein corridors2 PHASE I (2024 – 2026) ~11 g/t 4.43 g/t 8.20 g/t 8.20 g/t AVG. GOLD MINED POST-ORE FEED VEIN GRADE2 GRADE SORTING GRADE DILUTION FROM ORE SORTING FLOTATION BULK MINING OF TECHNOLOGY CONCENTRATE LEA
Slide 25: Feed Up “Grade”: Ore Sorting & Flotation
FEED UP “GRADE”: ORE SORTING & FLOTATION1 (Gold grade, g/t) 35.0 33.43 MINED GRADE FEED GRADE POST-ORE SORTING 30.79 30.81 30.0 FEED GRADE POST-FLOTATION 29.16 29.04 28.22 26.54 25.28 24.94 25.0 20.0 ~11 g/t average estimated uncapped length weighted grade 16.67 of quartz veins in vein corridors2 15
Slide 26: Cariboo Upside Potential Through Resource Conversion
CARIBOO UPSIDE POTENTIAL THROUGH RESOURCE CONVERSION FEASIBILITY STUDY – M&I RESOURCES ONLY1 ADDITIONAL INFERRED RESOURCES1 All ramp, access and haulage drifts and other primary Potential to convert inferred resources near mined ounces at infrastructure to be constructed to provide access to min
Slide 27: Cariboo Exploration Potential at Depth
CARIBOO EXPLORATION POTENTIAL AT DEPTH 2.03 Moz Au at 3.8 g/t Au in Probable Reserves1 1.57 Moz Au at 3.3 g/t Au M&I resources, 1.71 Moz at 3.44 g/t Au Inferred Resources with potential to be converted1 >500 m additional depth potential of known vein corridors adjacent to mine plan untested –
Slide 28: Developing a Mining Camp
DEVELOPING A MINING CAMP District-scale exploration upside in under-explored Cariboo Gold Belt High degree of confidence in geological model with anomalous gold values >2.0 g/t Au in ~80% of drill holes 155,000 ha property with 83 kilometers strike of gold targets ~700,000 meters drilled in
Slide 29: Cariboo Regional Exploration Targets
CARIBOO REGIONAL EXPLORATION TARGETS > 25 other targets to drill and growing Two mineralized trends ~25,000 soil samples 2,375 rock samples 1,100 stream sediment samples Airborne geophysics over all claims (Cariboo and Quesnel) Ongoing historic data compilation Systematic 1:2,000 sca
Slide 30: Appendix
APPENDIX NYSE: ODV | TSXV: ODV www.osiskodev.com 30
Slide 31: Cariboo Mineral Reserves & Resources
CARIBOO MINERAL RESERVES & RESOURCES (Measured and Indicated Resources are exclusive of Reserves) MINERAL RESERVES PROVEN PROBABLE PROVEN & PROBABLE Tonnes Grade Ounces Tonnes Grade Ounces Tonnes Grade Ounces Deposit (000’s) (g/t) (000’s) (000’s) (g/t) (000’s) (000’s) (g/t) (000’s) Cow – – – 4,127 3
Slide 32: Notes to Mineral Reserves and Resources
NOTES TO MINERAL RESERVES AND RESOURCES MINERAL RESERVES 1. Totals may not add up due to rounding. 2. Mineral Reserves have been estimated in accordance with CIM Definition Standards for Mineral Resources and Mineral Reserves (2014), which are incorporated by reference in NI 43-101. 3. Mineral Reser
Slide 33: Investor Relations Contact
PHILIP RABENOK, DIRECTOR, INVESTOR RELATIONS prabenok@osiskodev.com | +1 (437) 423 3644 NYSE: ODV | TSXV: ODV | www.osiskodev.com