Pirate Gold Corp · TSXV:YARR
Pirate Gold — Investor Presentation (September 2026)
40 slides from Pirate Gold's investor presentation, September 2026
Slide 1: Newfoundland's Leading Discovery Company
Newfoundland's Leading Discovery Company Advancing a District-Scale Gold and Copper-Gold Porphyry System TSXV: YARR OTCQB: YARRF TSXV: YARR OTCQB: YARRF www.pirategold.ca 1
Slide 2: Disclaimer & Forward-Looking Statement
Disclaimer & Forward-Looking Statement This Presentation includes certain “forward-looking statements” which are not comprised of historical facts. Forward-looking statements include estimates and statements that describe Pirate Gold Corp.’s (Pirate Gold or the Company) future plans, objectives or g
Slide 3: Why Now
Why Now You can: “Newfoundland is the Drill ever deeper in mature camps... (Like Timmins, Ontario) Abitibi 100 years ago.” ...OR... Go after the low-hanging fruit in Newfoundland. THE TECHNOLOGY UNLOCK: We can finally see through the till. Modern Airborne Geophysics Better Data Processing Smarter Ta
Slide 4: The Architects of Discovery
The Architects of Discovery Proven track record in Newfoundland and responsible for the discovery of the two largest Gold Deposits known to date on the Island (Valentine Lake and Queensway) Denis Laviolette Tim Froude Greg Matheson Executive Chairman, CEO & Director President VP, Exploration Founder
Slide 5: We Don’t Beat the Geological Odds. We Play Them.
We Don’t Beat the Geological Odds. We Play Them. Our Investment Thesis is Built on Three Undeniable Advantages Hunting in Elephant Country Controlling the Main Artery High-Grade Reality We are exploring the Dunnage Zone - Gold follows structure. We have This is not a science project; it is a the geo
Slide 6: Two Engines, One District
Two Engines, One District High-grade gold and a copper-gold porphyry system on the same 92km structure MOOSEHEAD · GOLD CRIPPLEBACK · COPPER-GOLD A Bonanza-Grade Gold System A New Copper-Gold Porphyry Discovery 70 g/t Au over 9m · hits up to 207 g/t Au · 650+ holes 0.54% Cu Eq over 180.8m · 0.24% Cu
Slide 7: The Prize: Orogenic Gold
The Prize: Orogenic Gold IOCG Skarn 2% PGE Related 1% 2.8% Other Targeting the Largest Source of Gold on the Planet IRGS 1% 3.7% VMS 3.8% Carlin The Geological Workhorse: 5.2% 4 at 15-40 Moz Orogenic systems are responsible for 41% of the world's Orogenic gold endowment. They don't offer one-off hit
Slide 8: Why Newfoundland?
Ganderia Avalonia Why Newfoundland? Newfoundland sits at the center of the Appalachian-Caledonian Orogenic Belt. While this geological structure stretches from Alabama to Scandinavia, Newfoundland represents the most preserved 'collision zone’ - a massive tectonic crash site where the conditions for
Slide 9: Tectonic Controls on Global Gold Resources
Tectonic Controls on Global Gold Resources Plate Tectonics (Continental Collision) Drives Many Gold Environments TSXV: YARR OTCQB: YARRF www.pirategold.ca 9
Slide 10: The Mechanism: The Deep Crustal Pump
The Mechanism: The Deep Crustal Pump To form a giant deposit, you need a vertical highway. Deep crustal faults pump gold-bearing fluids from the Mesozonal zone (10km deep) up to the Epizonal zone (near surface). Newfoundland's major fault lines act as this exact high-speed plumbing system. TSXV: YAR
Slide 11: Geology of Newfoundland
Geology of Newfoundland Island Subdivided into Three Major Geological Terrains Humber Zone (North America) (Laurentia) Dunnage Zone (Oceanic and Volcanic) (Ganderia) Avalon Zone (Avalonia) Orogenic Gold is most closely associated with the Dunnage Zone TSXV: YARR OTCQB: YARRF www.pirategold.ca 11
Slide 12: A Modern-Day Abitibi
A Modern-Day Abitibi Geology of Newfoundland Has Many Similarities to Abitibi Greenstone Belt Volcanic/Sedimentary Terrain formed during accretion Large scale Orogenic environment – fault structures cross entire island that are favourable for gold Shows potential to be major gold producing region Fi
Slide 13: Welcome to Treasure Island
Welcome to Treasure Island Located along the Valentine Lake Fault Zone District scale project now covering 92km of strike along the structural corridor One of the largest mineral rights holdings in the province at over 78,600 hectares Located only 15 minutes drive east of Grand Falls-Windsor (pop. 1
Slide 14: A Voyage of Rapid Progress
A Voyage of Rapid Progress Key Achievements & Milestones, September 2025 – September 2026 01 03 05 07 09 September 29 December 1 - 19 April 13 July 22 August 11 - 28 Denis Laviolette appointed 50,000m drilling program Moosehead - Rib Vein discovery: 65.1 Orogenic gold Dr. Rael Lipson as Chairman & C
Slide 15: Treasure Island Project Expansion
Treasure Island Project Expansion Building a Dominant Land Position 78,600 92 KM Hectares 100% Owned Strike Length Along the District Control Valentine Lake Fault TSXV: YARR OTCQB: YARRF www.pirategold.ca 15
Slide 16: Strategic Position
Strategic Position The Heart of the Central Newfoundland Gold Belt 1 The Mine Next Door Directly northeast of Equinox Gold's Valentine Lake Mine (4Moz), we sit on the same geological structure that hosts Newfoundland's largest gold operation. 2 The High-Grade Giant Directly west of New Found Gold's
Slide 17: Valentine Lake Gold Mine (Equinox Gold)
Valentine Lake Gold Mine (Equinox Gold) The Mine Next Door: 4Moz on the structure we hold for 92km Ca. 410 Ma qtz-tourm-py veins 175-200koz/year based on 2022 PFS First Gold pour in Q4 2025 Host: 565 Ma competent intrusion along a 450–420 Ma secondary reverse fault (brittle– ductile), coeval with gr
Slide 18: Treasure Island Project
Treasure Island Project Cover over 92km along the Valentine Lake Fault zone Advanced High-Grade Moosehead Zone with over 650 Drill Holes to Date Stony Lake Zone shows promise to make new discoveries with broad mineralized intervals Crippleback region is analogous to the Valentine Lake Mine has many
Slide 19: Treasure Island Project Geology
Treasure Island Project Geology Northern part of the project is dominated by the Botwood Sandstone (near shore environment) with coeval mafic volcanic layer – both are host to mineralization such as Moosehead and Stony Lake Southern part of the project dominated by the Crippleback intrusive suite (Q
Slide 20: Moosehead Zone Geology
Moosehead Zone Geology Advanced High-Grade Gold zone with over 650 Drill Holes to Date Sits along N-NW trending fault structure with Eastern and Western trends, plus the newly discovered Rib Vein linkage structure Vein filled fault zone in micaceous sandstones with typical mineralization consisting
Slide 21: Moosehead Top 25 Holes
Drill Hole Target Zone From (m) To (m) Length (m) Au (g/t) MH-18-39 Eastern Trend 75.45 84.5 9.05 70.3 Moosehead Top 25 Holes MH-18-01 MH-22-463 MH-24-649 Eastern Trend Eastern Trend Western Trend 109 295.3 41.6 120.9 334.9 46.45 11.9 39.6 4.85 45.0 12.5 69.5 MH-21-342 Eastern Trend 67.8 73.35 5.55
Slide 22: 50,000m Drilling Program - Moosehead
50,000m Drilling Program - Moosehead Three new zones at Moosehead discovered since the start of drilling in November 2025 2025 Regional Geophysical Target – PGC-25-006 Eight intervals >1g/t Au along 75m incl. 1.14g/t Au over 8.10m; traced along 200m of strike with results up to 5.74g/t Au over 1.6m
Slide 23: The Copper Discovery Drought
The Copper Discovery Drought Copper contained in major discoveries vs. global exploration spend, 1990–2024 Copper in major discoveries (MMt) Initial resources, 2018–24 Exploration budget ($M, right scale) 1.36 Bt of copper found in 258 major 15.6 MMt from 103 initial resource announcements, 2018–24
Slide 24: TSXV: YARR OTCQB: YARRF www.pirategold.ca
TSXV: YARR OTCQB: YARRF www.pirategold.ca 24
Slide 25: Scarcity Driven by Geology, Not Price
Scarcity Driven by Geology, Not Price The five largest copper discoveries of each era; bubble size reflects contained copper 3.0 1985–99 2000–09 2010–19 2020–25 Explorers Have Left the Hunt 2.5 Western Foreland Kamoa-Kakula (Kitoko) ~50% → ~25% Grade (% Cu) 2.0 Resolution Western Foreland (Makoko We
Slide 26: Why Copper · Why Crippleback
WHY COPPER · WHY CRIPPLEBACK The next generation of copper supply will not come from existing mines. It will come from discoveries. A Porphyry-Scale Target District-Wide Copper First Holes Hit Copper-gold from the bedrock surface to An alteration footprint spanning 32km × 7km Moby Dick’s first three
Slide 27: Copper/Gold Porphyry - Epithermal Deposits
Copper/Gold Porphyry - Epithermal Deposits Examples from the Appalachians Gaspe Copper Copper Porphyry /Skarn Haile Deposit 500Mt @ 0.5% Cu Epithermal >4.0Moz Au Hope Brook Epithermal ~2.0Moz Au Past/Current Producing Epithermal Deposit Notable Copper/Gold Arribas, Hedenquist, 2021 Porphyry Deposits
Slide 28: Island Architecture
Island Architecture Three large neo -Proterozoic inliers Crippleback Crippleback is the largest of these Laurentia Intrusive Suite Host both of the largest gold mines (565Ma) to date in NL Valentine Lake Intrusive Suite (564Ma ) Valentine Lake Gold Mine (~4.0Moz) Roti Intrusive Avalonia Suite (563Ma
Slide 29: Crippleback Intrusive Suite
Crippleback Intrusive Suite Crippleback Intrusive Suite (565 Ma) shares many tectonic/lithological similarities to the Valentine Lake Intrusive Suite (564 Ma) Rogerson Lake Conglomerate Pirate Gold Treasure Island Project Crippleback Intrusive Suite (565Ma) Valentine Lake Intrusive Suite (564Ma) Val
Slide 30: Crippleback Geology
Crippleback Geology Focused on the Crippleback Intrusive Suite Sits along 40km of the Valentine Lake Fault Zone in similar tectonic position as Valentine Lake Mine High-grade copper, gold and molybdenum across 100+ showings, with 79 new copper occurrences found in one month of prospecting 2026 Moby
Slide 31: Crippleback
µ Buccaneer Pond Crippleback Numerous copper and gold occurrences –up to 21.4g/t Au – no drilling Coronation Lake Numerous copper, gold and Crippleback Lake molybdenum occurrences – Moby Dick: 4,000 x strong potential for copper 850m Advanced porphyry/epithermal Argillic Alteration Zone Confirmed by
Slide 32: Moby Dick: A Copper-Gold Discovery
Moby Dick: A Copper-Gold Discovery A grassroots copper-gold porphyry to high-sulphidation epithermal system at Crippleback PGC-26-068 · MOBY DICK 0.54% Cu Eq over 180.8m (0.13% Cu, 0.36 g/t Au, 1.73 g/t Ag) including 1.48% Cu Eq over 49.4m (0.28% Cu, 1.07 g/t Au, 3.42 g/t Ag) 4,000 × 850 m advanced
Slide 33: Drill Results from Moby Dick
Drill Results from Moby Dick Broad copper-gold mineralization in three holes across the advanced argillic system Hole From To Length Cu % Au g/t Ag g/t Cu Eq PGC-26-058 250.45 362.85 112.4 0.12 0.22 1.76 0.38 incl. 281.00 326.00 45.0 0.17 0.46 2.57 0.72 PGC-26-068 194.25 523.80 329.6 0.09 0.22 1.35
Slide 34: A 32 km Copper-Gold District
A 32 km Copper-Gold District Moby Dick is one target in a regional porphyry-epithermal system across the Crippleback Intrusive Suite 32 km × 7 km of copper-gold porphyry and epithermal potential along the Valentine Lake Fault, across 40 km of the Crippleback suite 100+ occurrences of copper, gold an
Slide 35: One Geophysical Signature, Two Targets
One Geophysical Signature, Two Targets Airborne EM resistivity independently confirms the alteration footprints at Moby Dick and Clipper Brook 10 km resistivity low at Clipper Brook, 500–1,500 m wide, coincident with advanced argillic alteration mapped over 3+ km at surface 4,000 × 850 m Moby Dick s
Slide 36: 50,000m Drilling Program - Crippleback
50,000m Drilling Program - Crippleback Crippleback – three drills active; first step-out at Moby Dick: 0.24% Cu Eq over 299.4m, 100m west of discovery Primary focus on expanding the Moby Dick discovery and other regional targets One drill testing the Orogenic potential along the scurvy pond fault Fi
Slide 37: Treasure Island 50,000m Drilling Program
Treasure Island 50,000m Drilling Program Fully Funded Program Throughout 2026 Moosehead Crippleback Over a dozen other geophysically identified First 100m step-out at Moby Dick returned 0.24% Cu Eq structures with similar orientation and potential to over 299.4m from bedrock; assays pending from 11
Slide 38: Share Structure
Share Structure (as of May 19, 2026) Shares Issued & Outstanding 507M Warrants 4M Ranging from $0.06 to $0.19 Stock Options 50M Fully Diluted 561M Market Cap $112M Cash Position $17M Eric Sprott 22% TSXV: YARR OTCQB: YARRF www.pirategold.ca 38
Slide 39: The "Treasure Hunters" Series
The "Treasure Hunters" Series A Behind-the-Scenes Look at the 50,000M Drill Program 1. Unfiltered Access We are tearing down the wall between the boardroom and the drill rig. This series gives shareholders a direct line of sight into the daily operations and strategy of the exploration team. 2. Real
Slide 40: We Don’t Beat The Odds. We Play Them.
We Don’t Beat The Odds. We Play Them. Denis Laviolette Joshua Duggan Executive Chairman, CEO & Investor Relations Director josh@pirategold.ca denis@pirategold.ca 647.526.1881 TSXV: YARR OTCQB: YARRF www.pirategold.ca 40