Slide 1: BULGOLD Inc.
TSXV: ZLTO BULGOLD Inc. Exploring the European Portion of the Prolifically Endowed Western Tethyan Belt New Discoveries in Old Lands Contact: Sean Hasson President and Chief Executive Officer sean.hasson@BULGOLD.com James Crombie Executive Chairman james.crombie@BULGOLD.com www.BULGOLD.com August 20
Slide 2: Cautionary Note About Forward-Looking Statements
Cautionary Note About Forward-Looking Statements This presentation contains ‘forward-looking information' within the meaning of applicable Canadian securities legislation. Generally, forward- looking information can be identified by the use of forward-looking terminology such as “potential”, “antici
Slide 3: Executive Summary
Executive Summary • Gold exploration for quartz-adularia epithermal deposits (aka “low-sulfidation epithermal”). • Management and Directors of the Company have extensive operating experience within Europe. • Management has been involved in the discovery and definition of 7.2Mozs Au & 1.4Mt Cu (NI 43
Slide 4: Corporate Structure (TSXV: ZLTO)
Corporate Structure (TSXV: ZLTO) Share Structure: 49,132,335 Aug 18, 2025 12 Month High: $0.16 Founders 12 Month Low: $0.02 19.4% Avg. Daily Vol.: 22.29k Directors & Management 8.9% Dundee Corporation Aug 18, 2025 52.5% 9.6% Closing: $0.07 Dundee Precious Metals Shares o/s 49,132,335 9.6% Float Dilu
Slide 5: Why Explore for Quartz-Adularia Epithermal Deposits?
Why Explore for Quartz-Adularia Epithermal Deposits? • Management expertise and experience with deposit style. • Excellent metallurgy: generally amenable to grinding-flotation (± gravity) to produce high-grade gold concentrates at ≥85% recovery. • Resource to reserve conversion usually expected to b
Slide 6: The Boxes That We Need to Tick
The Boxes That We Need to Tick Important considerations for the exploration of epithermal quartz vein systems: 1) Pedigree and Location. 2) Preservation Potential - What Level in the System? 3) Is Gold Present in the System? 4) Potential Metallurgy? 5) The Target Area to be Drilled. Target: high-gra
Slide 7: Pedigree & Location
Pedigree & Location • Favourable Location Between Two Large Au-Ag Epithermal Systems “Central Slovakia is the home of long and large epithermal vein systems.” • Kremnica Gold Deposit: • Historic production (via gravity): est. 1.6Mozs Au (Finka, 1995). • Current JORC (2012) mineral resource estimate:
Slide 8: Lutila Gold Project in Relation to Kremnica
Lutila Gold Project in Relation to Kremnica Kremnica: Significant Intercepts from Underground Drilling 5km • 6m @ 109.82g/t Au, (659 g/m) UGA-18; 1g/t Au cut-off, max. 3m internal dilution Kremnica Mining Licence • 1m @ 584g/t Au, (584 g/m) UGA-16; 1g/t Au cut-off, no internal dilution • 10m @ 16.98
Slide 9: Kremnica Vein – The Target.
Kremnica Vein – The Target. 9
Slide 10: Preservation Potential – Lutila Gold Project
Preservation Potential – Lutila Gold Project North East Block • The vein pieces are dominated by low temperature, low fluid-flux textures and are commonly coarsely banded chalcedonic quartz with zones of quartz lattice bladed textures which indicate that boiling Sinter has occurred. Field • Numerous
Slide 11: Preservation Potential - What Level in the System?
Preservation Potential - What Level in the System? (Modern Day Examples from New Zealand) Rhyolite Flow Domes Located Adjacent ‘Hot Spring’ Proximal Sinter Forms Very Slowly Proximal Sinter Forms in the Topographic Lows Proximal Sinter Forms Distinctive Textures Distal Sinter Commonly Includes Flora
Slide 12: Gold is Present in the System
Gold is Present in the System * BULGOLD Assay Results (SGS Bor). • Historic rock chip sampling, which is limited to the North East Block, has shown that surface gold grades increase in value (up to 4.44g/t Au) towards lower elevations. • Historic exploration drilling, which is also restricted to the
Slide 13: Potential Metallurgy (Based on Kremnica)
Potential Metallurgy (Based on Kremnica) • “A program of metallurgical test work was carried out by Process Research Associates (PRA) in Vancouver, BC, Canada between 2005 and 2006 on a range of ore samples. This work established that Kremnica ore presented no particular treatment problems.” • The C
Slide 14: The Boxes That We Need to Tick
The Boxes That We Need to Tick 1) Pedigree and Location. 2) Preservation Potential - What Level in the System? 3) Is Gold Present in the System? 4) Potential Metallurgy? 5) The Target Area to be Drilled. 14
Slide 15: Horna Klapa – Priority Target Area
Horna Klapa – Priority Target Area • Epithermal quartz vein float material has been discovered at surface over 1.2km in strike length. • Including quartz lattice bladed textures, which indicate clear evidence of boiling, over a distance 0.7km. A’ • Additionally, the Company has uncovered the presenc
Slide 16: Horna Klapa – Priority Target Area
Horna Klapa – Priority Target Area A A’ V=H 16
Slide 17: Horna Klapa Epithermal Quartz Veins
Horna Klapa Epithermal Quartz Veins 17
Slide 18: Horna Klapa Epithermal Quartz Veins
Horna Klapa Epithermal Quartz Veins 18
Slide 19: Slovakia
Slovakia • EU (€) and NATO member since 2004. NON-EU • No restrictions on foreign ownership. EU SK • 21% corporate tax rate. BG • 5% NSR for gold and silver. • Low-cost profiles, skilled local workforce. • The use of CN for extractive purposes has been prohibited since 2014. • Rozalia Gold Undergrou
Slide 20: The BULGOLD Team - Management
The BULGOLD Team - Management James Crombie, Executive Chairman Sold Palmajero Gold for $1.13B to Coeur d’Alene and put together Miramar’s Arctic deposits setting up the $1.5B sale to Newmont. Successfully closed a $2M CPC IPO in April 2022. +40 Years Mining, Exploration & Capital Markets Experience
Slide 21: The BULGOLD Team - Board of Directors
The BULGOLD Team - Board of Directors Dr Mihaela Barnes, Independent Director, Chair ESG & Nominating Committee Ph.D. in International Law (Geneva) together with legal qualifications and experience in both common and civil law. +15 Years Environmental, Social & Governance Experience. Vanessa Cook, I
Slide 22: We Find Gold.
We Find Gold. • A seasoned group of explorers with a solid track record of discovery. • Expertise and experience with epithermal quartz vein deposits. • “We know what we are looking for.” • Horna Klapa: a compelling target area for the ‘proof of concept’ drill hole. • Good exploration upside remains
Slide 23: Appendix
Appendix 23
Slide 24: Lutila Gold Project Historic Soil Geochemistry (As)
Lutila Gold Project Historic Soil Geochemistry (As) 24
Slide 25: Lutila Gold Project Historic Soil Geochemistry (Sb)
Lutila Gold Project Historic Soil Geochemistry (Sb) 25
Slide 26: Lutila Gold Project Conceptual Exploration Model
Lutila Gold Project Conceptual Exploration Model W E • The Company believes that the Lutila Gold Project reflects a continuation of the same volcanic depression (that hosts the Kremnica gold mine), which has been downfaulted, creating a preserved graben of rhyolite flow domes complexes and their pyr
Slide 27: Lutila Gold Project Adjacent Bentonite Mining
Lutila Gold Project Adjacent Bentonite Mining Rhyolite Flow Domes Define the Ridgeline Rhyolite Flow Domes Define the Ridgeline Bentonite Benches Proximal Sinter Lutila 1 – Bentonite Open Pit Jelsovy Potok – Bentonite Open Pit • Bentonite is formed by the alteration of eruptive igneous rocks, usuall
Slide 28: References
References September 27, 2023 “BULGOLD Acquires the Lutila Gold Project in Slovakia for 100 EUR” May 1, 2024 “BULGOLD Highlights the Potential Scale of the Lutila Gold Project Through a Review of Historic Exploration Data” July 3, 2024 “BULGOLD Commences Drilling on the Lutila Gold Project” Septembe