Nexgold · TSXV:NEXG

Nexgold — NexGold Mining — Investor Presentation (January 2025)

42 slides from Nexgold's investor presentation, January 2025

  1. Slide 1: Creating Canada's Newest & Most-Advanced Developer

    Creating Canada’s Newest & Most-Advanced Developer January 2025 TSX.V: NEXG OTCQX: NXGCF

  2. Slide 2: Cautionary Statements

    Cautionary Statements Disclaimer Forward-looking Statements Cautionary Statement Regarding Mineral Resource and Mineral Reserve Estimates Technical Disclosure TSX.V: NEXG 2

  3. Slide 3: Company Overview

    Company Overview Company Overview Strategic Benefits and Synergies Leadership and Governance Financial and Operational Highlights TSX.V: NEXG 3

  4. Slide 4: Portfolio Overview

    Portfolio Overview Goliath (PFS, 2023) Goldboro (FS, 2021) NPV5% $336M $328M (After-Tax) IRR 25.4% 25.5% (After-Tax) Mine Life 13 years 10.9 years Payback Period 2.1 years 2.9 years Avg. Annual 91Koz AuEq 100Koz Au Production AISC US$1,072/oz US$849/oz Au Price US$1,750 US$1,600 Assumption The trans

  5. Slide 5: Management and Board Members

    Management and Board Members Executive Management Kevin Bullock Jeremy Wyeth Orin Baranowsky Mr. Bullock is a registered Senior leadership roles: 25+ years in finance; over $1B Professional Mining Engineer in DeBeers, Anglo American. in financing for exploration the province of Ontario. Board 35 yea

  6. Slide 6: Corporate Structure

    8.6% Frank Giustra¹ Corporate Structure 10.6% Extract¹ 41.8% 9.3% Capital Market Data Retail and Sprott¹ Other Symbol TSXV: NEXG | OTCQX: NXGCF 2.1% First Mining Shares Outstanding 143.5M (after recent financings and based on pro forma adjustments) 1.0% Matrix Warrants 1.0% Teck 34.7M 3.1% 22.5% NEX

  7. Slide 7: Goliath and Goldboro – Two of the Next Permitted Gold Mines in Canada

    Goliath and Goldboro – Two of the Next Permitted Gold Mines in Canada TSX.V: NEXG 7

  8. Slide 8: Goliath Gold Complex

    Goliath Gold Complex District Scale: World Class Infrastructure and Talent: Environmental Approval: Exploration Potential: Active Gold District Surrounded by major gold producers like Kinross, Agnico Eagle, Barrick and more owning nearby multi-million-ounce Au projects TSX.V: NEXG 8

  9. Slide 9: Goliath Gold Complex

    Goliath Gold Resource Classification Tonnes (kt) Au (g/t) Au (koz) Ag (g/t) Ag (koz) Measured 6,393 1.33 273.6 5.17 1,062.7 Complex Indicated 61,318 0.95 1,865.0 2.92 2,459.3 M&I 67,711 0.98 2,138.6 3.42 3,522.0 Inferred 32,571 0.75 782.8 0.84 91.5  100% ownership of Goliath located in Northwestern

  10. Slide 10: Goliath: A Robust Open Pit-Underground Project

    Goliath: A Robust Open Pit-Underground Project C$336 MILLION, 13+ YEARS ~109,000 C$335 IRR 25.4% OUNCES MILLION AFTER-TAX NPV 5% MINE LIFE AVERAGE ANNUAL GOLD INITIAL CAPITAL (US$1,750/oz Gold Price) PRODUCTION YR 1-9 1.0 NPV TO INITIAL US$892 per US$1,037 per CAPITAL 92.8% OUNCE OUNCE AFTER-TAX IRR

  11. Slide 11: Goliath Pre-Feasibility Study

    General LOM Total Avg. Gold Price (US$/oz) $1,750 Goliath Pre-Feasibility Study Silver Price Mine Life Production (US$/oz) (Years) $21 13 PFS NPV >C$1B at Spot Prices Head Grade Au (g/t) 1.30 The February 2023 Prefeasibility Study for Goliath considers a 13-year mine life with average production >10

  12. Slide 12: Goliath Infrastructure

    Goliath Infrastructure  World class infrastructure at our doorstep, including:  Trans-Canada Highway  Ontario Provincial Hwy 72  CP Rail  Hydro Trans-Canada Highway  Ready access to experienced and available workforce in Dryden and Sioux Lookout  Environmental Assessment approval received for

  13. Slide 13: Production profile

    Production profile MARCH 2023 PFS HIGHLIGHTS 116K ounces per year for first 7 years  13-yr mine life with average production >100koz Au in first 9 years  6.5ktpd gravity-CIL plant; average Au recovery 92.8%  C$336M Post-tax NPV5% and 25.4% IRR at US$1,750 Au  LOM Cash Cost US$935/oz; LOM AISC US

  14. Slide 14: Goldboro Gold Project

    Goldboro Gold Project Leading Scale and Grade: Location Advantage: Environmental Approval: Community Engagement: Resource Tonnes Au (g/t) Au(g/t) Au (koz) Classification (kt) Measured 9,255 3.56 3.56 1,059 Exploration Potential: Indicated 12,338 3.84 3.84 1,523 M&I 21,593 3.72 3.72 2,583 Inferred 3,

  15. Slide 15: Goldboro: A Robust Open Pit Project

    Goldboro: A Robust Open Pit Project C$328 MILLION, ~11 YEARS ~100,000 C$271 IRR 25.5% OUNCES MILLION AFTER-TAX NPV 5% OPEN PIT AVERAGE ANNUAL LOM GOLD INITIAL CAPITAL (US$1,600/oz Gold Price) MINE LIFE PRODUCTION 1.2 NPV TO INITIAL US$773 per US$849 per CAPITAL 95.8% OUNCE OUNCE AFTER-TAX IRR AVERAG

  16. Slide 16: Feasibility Study

    Feasibility Study General LOM Total Avg. FS NPV >C$1B at Spot Prices Gold Price (US$/oz) $1,600 The 2021 Goldboro project FS indicates a ~11-year open pit mine life with average annual gold production of Mine Life (Years) 10.9 100Koz Au,. C$271M in initial capital costs and 95.8% average gold recove

  17. Slide 17: Goldboro: Exploration Potential

    Goldboro: Exploration Potential Selected composited highlights from the drill program include:  26.09 g/t gold over 8.9 metres (105.5 to 114.4 metres) in hole BR-23- 393 including 79.18 g/t gold over 0.5 metres and 371.59 g/t gold over 0.5 metres;  20.59 g/t gold over 3.0 metres (122.4 to 125.4 me

  18. Slide 18: Niblack

    Niblack  6 Mt NI 43-101 mineral resource, updated February 2023  Geological reinterpretation confirmed by 2021 drilling now provides significant expansion potential in multiple directions  2020/2021 drill highlights includes grades up to 4.93 g/t Au, 145 g/t Ag and 5.18% Cu  Existing production-

  19. Slide 19: Comparable Peers

    Comparable Peers NexGold is well-positioned, with two near-permitted projects in Canada, to close the valuation gap with its peers in the mining sector, representing significant upside potential for shareholders. Closing the Valuation Gap: Enhancing Market Position Market Cap (C$M) P/NAV Valuations

  20. Slide 20: Key Investment Takeaway

    Key Investment Takeaway  Unified Strengths: Combined market cap ~C$100 million post-financing, reflecting the scale and enhanced capabilities of the merged entity, with an experienced mid-development and operating team to execute on strategy.  Enhanced Project Portfolio: Partially-permitted projec

  21. Slide 21: Contact

    Contact Call Us Chat with us TSX.V: NEXG 21

  22. Slide 22: Appendix

    Appendix TSX.V: NEXG 22

  23. Slide 23: Goliath Gold Complex NI 43-101 Mineral Reserve Estimate

    Goliath Gold Complex NI 43-101 Mineral Reserve Estimate Deposit Quantity (‘000 tonnes) Grade Gold (g/t) Contained Gold (‘000 oz) Grade Silver (g/t) Contained Silver (‘000 oz) Open Pit – Goliath Proven 3,969 1.05 134 3.22 410 Probable 5,580 0.67 119 2.20 395 Proven & Probable 9,549 0.83 254 2.62 805

  24. Slide 24: Goliath Gold Complex NI 43-101 Mineral Resource Estimate

    Goliath Gold Complex NI 43-101 Mineral Resource Estimate Deposit Cut-off Grade (g/t) Quantity (‘000 tonnes) Grade Gold (g/t) Contained Gold (‘000 oz) Measured Resources Goliath Open Pit 0.25 6,223 1.20 240 Goliath Underground 2.2 170 6.24 34 Total Measured 6,393 1.33 274 Indicated Resources Goliath

  25. Slide 25: Goliath Gold Deposit Mineral Resource Estimate

    Goliath Gold Deposit Mineral Resource Estimate Goliath Open Pit Classification Cut-Off Tonnes (kt) Au (g/t) Au koz Ag (g/t) Ag koz Measured 0.25 6,223 1.20 239.5 4.70 940.6 Indicated 0.25 23,081 0.75 559.4 2.53 1,878.5 Meas+ Ind 0.25 29,304 0.85 798.9 2.99 2,819.1 Inferred 0.25 3,330 0.66 70.2 0.80

  26. Slide 26: Goldlund Deposit Mineral Resource Estimate

    Goldlund Deposit Mineral Resource Estimate Goldlund Open Pit Classification Cut-Off Tonnes (kt) Au (g/t) Au koz Measured 0.3 0 0.00 0 Indicated 0.3 33,353 0.85 911.0 Meas+ Ind 0.3 33,353 0.85 911.0 Inferred 0.3 28,833 0.73 680.2 1. Refer to the Notes on the Mineral Resource Estimate in slide 20 of t

  27. Slide 27: Miller Deposit Mineral Resource Estimate

    Miller Deposit Mineral Resource Estimate Miller Open Pit Classification Cut-Off Tonnes (kt) Au (g/t) Au koz Measured 0.3 0 0.00 0 Indicated 0.3 2,112 1.10 74.6 Meas+ Ind 0.3 2,112 1.10 74.6 Inferred 0.3 138 1.01 4.5 1. Refer to the Notes on the Mineral Resource Estimate in slide 24 of this Presentat

  28. Slide 28: Goliath Open Pit Cut-Off Grade Sensitivity

    Goliath Open Pit Cut-Off Grade Sensitivity Goliath Open Pit (January 17, 2022) Goldlund Open Pit (January 17, 2022) Miller Open Pit (January 17, 2022) Class Class Class Cut-off Tonnes Au Grade Au Cut-off Tonnes Au Grade Au Cut-off Tonnes Au Grade Au (g/t) (t) (g/t) (Oz) (g/t) (t) (g/t) (Oz) (g/t) (t

  29. Slide 29: Goliath Comparison Between 2022 MRE and 2021 PEA MRE

    Goliath Comparison Between 2022 MRE and 2021 PEA MRE Comparison - Goliath Gold Complex Total Cut-Off Grade Tonnes (kt) Au (g/t) Au (Oz) Deposit Type Class 2021 PEA MRE 2022 MRE 2021 PEA MRE 2022 MRE 2021 PEA MRE 2022 MRE 2021 PEA MRE 2022 MRE Goliath Open Pit Meas 0.25 0.25 1,471 6,223 1.90 1.20 90,

  30. Slide 30: Goliath Input Parameter Comparison – 2022 MRE vs. 2021 PEA MRE

    Goliath Input Parameter Comparison – 2022 MRE vs. 2021 PEA MRE Parameters Units 2021 PEA MRE 2022 MRE Gold Price $/oz Au 1,700 1,700 Silver Price $/oz Ag 23 23 US$ to CAD 0.75 0.75 Recovery / Regression Au Goliath % 95.5 93.873*Au^0.021 Recovery / Regression Au Goldlund % 89 90.344xAu^0.0527 Recover

  31. Slide 31: Goliath PFS Economic Sensitivity Analysis

    Goliath PFS Economic Sensitivity Analysis Significant leverage to gold price $493M NPV5% post-tax at US$1,950 gold price Gold Price Post-tax NPV5% Initial Capex Total OPEX FX US$/Oz Base Case (-20%) (+20%) (-20%) (+20%) (-10%) (+10%) $1,550 $178 $242 $114 $321 $30 $315 $64 $1,650 $257 $321 $193 $400

  32. Slide 32: Goldboro: 2021 Mineral Resource Estimate

    Goldboro: 2021 Mineral Resource Estimate Mineral Resource Type Gold Cut-off (g/t gold) Category Tonnes Grade (g/t gold) Gold Troy Ounces November 2021 Mineral Resource based on: Measured 7,680,000 2.76 681,000  681 surface and underground drill holes Indicated 7,988,000 2.89 741,000  A total of 12

  33. Slide 33: Goldboro: Significant Mineral Resource Growth

    Goldboro: Significant Mineral Resource Growth Probable Reserves of 1,150,200 3,200,000 ounces of gold (15.8 million tonnes High Quality Mineral Resource @ 2.26g/t Au) 2,700,000 • A total of 121,540m of diamond drilling, including 55,803m conducted by the Company 2,200,000 • 681 surface and undergrou

  34. Slide 34: Goldboro: Infrastructure and Facilities

    Goldboro: Infrastructure and Facilities Infrastructure contained in a single watershed  Fully-lined Tailings Storage Facility designed for 16.4 million tonnes of tailings and 10.8 million tonnes of co- placed Waste Rock  Employee Accommodation Facilities to house up to 175 personnel during operati

  35. Slide 35: Scale Potential: Opportunity at Depth, Grade Distribution

    Scale Potential: Opportunity at Depth, Grade Distribution TSX.V: NEXG 35

  36. Slide 36: Phased-Development Approach for Long Life Mine

    Phased-Development Approach for Long Life Mine The Company is approaching the development of Goldboro in a disciplined, capital efficient, phased approach, with the Phase I Feasibility Study focused on the surface mining component of a longer-term plan that would incorporate underground mining into

  37. Slide 37: Goldboro: Gold Price Leverage

    Goldboro: Gold Price Leverage Description Unit Net Present Value (C$ M)  The Feasibility Study indicates a robust Project with strong % Variation % -20% -10% 0% +10% +20% economics at US$1,600 gold US$/oz US$1,280 US$1,440 US$1,600 US$1,760 US$1,920 (C$2,000), with significant Au Price leverage in

  38. Slide 38: Scale Upside: Near-Surface Mineral Resource Growth Potential

    Scale Upside: Near-Surface Mineral Resource Growth Potential Opportunity for mineral resource growth to the west, towards the past-producing Dolliver Mountain gold mine  Goldboro has completed a 50-line kilometre Induced Polarization (IP) geophysical survey for 1.1km west of previous Goldboro drill

  39. Slide 39: Near-Surface Gold Discovery – Dolliver Mountain

    Near-Surface Gold Discovery – Dolliver Mountain  Continued multiple intersection around past producing Dolliver Mountain;  Multiple intersections representing stacked argillite units similar to the Goldboro model  Potential up-plunge mineralization from under previous drilling at Goldboro  Exten

  40. Slide 40: Targeting the Expansion of the Goldboro Gold District

    Targeting the Expansion of the Goldboro Gold District Opportunity for further regional mineral resource growth based on ~4,000-line kilometre airborne magnetic and very low frequency (“VLF”) electromagnetic surveys  Survey indicates numerous geophysical anomalies associated with both the Goldboro a

  41. Slide 41: Scale Potential of the Goldboro Deposit

    Scale Potential of the Goldboro Deposit  Mineralization now traced for over 3.4km of strike length  Indications of further mineralization along strike and down plunge  Deepest hole drilled to date is 550m vertical and continues to be open TSX.V: NEXG 41

  42. Slide 42: The Stewart Target

    The Stewart Target  The Fowler target is located within the Goldboro Trend, a 28-km-long geological trend defined by an anticlinal fold structure that hosts the Goldboro Deposit  The Goldboro Deposit is hosted within a geological level referred to as the Richardson sequence which plunges eastward

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