Elevation Gold Mining Corporation · OTC:EVGDQ
Elevation Gold Mining — Investor Presentation (May 2023)
30 slides from Elevation Gold Mining's investor presentation, May 2023
Slide 1: Growing Gold Production in Arizona
GROWING GOLD PRODUCTION IN ARIZONA A TOP TIER MINING JURISDICTION MAY 2023 TSXV: ELVT ▪ OTCQX: EVGDF
Slide 2: Cautionary Notes
CAUTIONARY NOTES Disclaimer The information contained herein has been prepared to assist interested parties in making their own evaluation of Elevation Gold Mining Corporation (“Elevation” or the “Company”) and does not purport to contain all of the information that a prospective investor or partner
Slide 3: Moss: A Compelling Gold Opportunity
MOSS: A COMPELLING GOLD OPPORTUNITY Moss is 100% owned, fully permitted and operational heap leach gold mine in a top tier mining jurisdiction • 2023 guidance of 34,000 – 36,000 gold ounces sold Led by a strengthened leadership team with decades of experience in the western U.S. • Supportive corners
Slide 4: Top Tier Mining Jurisdictions
TOP TIER MINING JURISDICTIONS ✓ 100% owned Moss gold property covers ~165 km2 in the Oatman district located in Mohave County in Assets located on the prolific NEVADA WALKER LANE GOLD TREND northwestern Arizona Reno HERCULES ✓ Excellent infrastructure and easily accessible with paved highways and gr
Slide 5: Capitalization & Shareholders
CAPITALIZATION & SHAREHOLDERS Snapshot Shareholder Summary Share and market data as of March 31, 2022 TSXV: ELVT Listings 16% OTCQX: EVGDF Greenstone Resources Basic Shares Outstanding 110.6M 7% Triple Flag Precious Metals 2% Management & Directors Options 5.7M Institutional / Retail / Other Warrant
Slide 6: Strengthened Leadership Team
STRENGTHENED LEADERSHIP TEAM FOCUSED ON OPERATIONAL EXECUTION Tim Swendseid CEO & Director Directors and Advisors 35+ years of worldwide experience in operating, technical and financial aspects of mining projects. Previously COO of Boroo Mining Company, SVP Operations & Technical at CMOC Internation
Slide 7: Operating Results
OPERATING RESULTS 2022 A YEAR OF TRANSITION Several key changes were implemented throughout 2022 to address operational challenges which generated improved mine output in the second half of 2022 Q1 2023 Q4 2022 2022 Ore tonnes stacked (t) 698,351 738,478 2,976,281 Gold grade (g/t) 0.43 0.53 0.45 Gol
Slide 8: Recent Key Changes & Events
RECENT KEY CHANGES & EVENTS OPERATIONS STEADILY IMPROVING ✓New CEO and leadership team appointed with extensive Moss Gold Production (oz) operating experience 12,000 ✓New mining contractor in place (Ledcor Q4 2022) 9,000 ✓Stabilized workforce by significantly reducing staff 6,000 turnover (only 8% i
Slide 9: Current Exploration Program
CURRENT EXPLORATION PROGRAM UNLOCKING POTENTIAL WITHIN A LARGE, UNDER-EXPLORED LAND PACKAGE • Plentiful high-potential exploration targets within the 165 km2 land package • Near mine drilling exposing expansion potential material • Additional greenfields drilling southeast of the Moss mine exposing
Slide 10: Reynolds Pit: Near Mine Pit Extension Targets
NEAR MINE PIT EXTENSION TARGETS 3 HIGH PRIORITY TARGETS ALL WITHIN PERMITTED AREAS • 22 RC holes totaling 4,906m have been completed into 3 different near-mine priority targets, all within permitted areas • Reynolds Pit • Mordor • ROM Pad Ramp • Assay results for 20 RC holes have been received, all
Slide 11: Reynolds Pit: Significant Resource Expansion Potential
REYNOLDS PIT SIGNIFICANT RESOURCE EXPANSION POTENTIAL Cross Section: Reynolds Pit/Mid-West Extension • Fully permitted area west of • Looking West the current mining area • 30 meter section width • Similar substantial intersections in sections to the east and west, and open to both sides • Average g
Slide 12: Reynolds Pit: Further Potential in Untested Areas
REYNOLDS PIT FURTHER POTENTIAL IN UNTESTED AREAS Potential Area and Strike Length of North-Dipping Structures TSXV: ELVT ▪ OTCQX: EVGDF N 305 meters 11
Slide 13: Moss Growth Plan
MOSS GROWTH PLAN HIGH RETURN ON INVESTMENT POTENTIAL WITH LOW EXECUTION RISK Phase 1 Risk Mitigation • Conduct additional drilling in Reynolds Pit and Mordor areas • Goal to add additional tons of ore in western area which ✓ Infrastructure already in place could potentially lead to: • More contained
Slide 14: Additional Near Mine Targets
ADDITIONAL NEAR MINE TARGETS ROBUST PIPELINE THROUGHOUT THE PROPERTY TSXV: ELVT ▪ OTCQX: EVGDF Multiple additional parallel and accessory veins throughout the ~165 km2 land package Notes: Topographic surface as of November 14, 2021; Drilling as of December 1, 2021 news release; Viewing window approx
Slide 15: Florence Hill
FLORENCE HILL PROSPECTIVE EXPLORATION AREA 4 KM SOUTHEAST OF MOSS • 5 diamond core holes totaling 3,141m have been drilled on greenfields targets in the Florence Hill, Grapevine and McCullough Patents areas • Core samples have been shipped to independent laboratories with assay and geochemical resul
Slide 16: Regional Exploration
REGIONAL EXPLORATION DISTRICT SCALE POTENTIAL IN THE HISTORIC OATMAN DISTRICT • Plentiful high-potential exploration targets that have yet to be drilled within the 165 km2 land package • Over 2 Moz of gold previously produced Historic in the Oatman district Oatman District (+2 Moz Au UG High Grade)
Slide 17: Elevation: Compelling Valuation
ELEVATION: COMPELLING VALUATION Junior Gold Producers & Developers in Western USA $500M in 2022 for $450M Market Cap. / Transaction Value $400M Elevation is currently valued $300M significantly below peers in 2022 for in 2022 for Market Cap: $206.5M in 2022 for $188M $200M $172M $150M $100M Market C
Slide 18: Hercules: Future Opportunity
DAYTON 11.5 km Sprite HERCULES: FUTURE OPPORTUNITY H20006: 22.86 m @ 0.32 g/t Au, 1.93 g/t Ag DISTRICT-SCALE EXPLORATION POTENTIAL H20003: 13.72 m @ 0.40 g/t Au, 6.01 g/t Ag Lucky Rusty Rattlesnakes H20002: 45.72 m @ 0.33 g/t Au 1.87 g/t Ag Loaves Northeast Cliffs Hercules • 100% owned, district-sca
Slide 19: Moss: Responsible Mining
MOSS: RESPONSIBLE MINING COMMITMENT TO SAFETY, ENVIRONMENT & SOCIAL STEWARDSHIP • Moss operation connected to grid power • Moss generators remain onsite and can be activated in times of extreme power need to feed back into the grid, providing a critical backup to the local community • New production
Slide 20: Path Forward
PATH FORWARD • Continuous operational improvement throughout the year • 2023 guidance of 34,000 – 36,000 gold ounces sold • Receive remaining assays for near-Moss and greenfields drilling • Commence additional drill program focusing on Reynolds Pit and Mordor area to enhance 2024 mining plans • Cont
Slide 21: Investment Highlights
INVESTMENT HIGHLIGHTS Moss is a Low Risk Production Significant Additional scarce asset Growth Potential Upside Potential ✓ Fully permitted and operational gold ✓ Robust pipeline of near mine targets to ✓ Further expansion and district scale mine in a top tier mining jurisdiction expand production i
Slide 22: Contact Us
CONTACT US WEBSITE elevationgold.com EMAIL info@elvtgold.com TSXV: ELVT ▪ OTCQX: EVGDF 21
Slide 23: Moss: Reserves & Resources
MOSS: RESERVES & RESOURCES Mineral Reserves(1) (Effective July 1, 2021) Notes: Metal Prices used for Mineral Reserves: $1,525/oz Ore Gold Silver Contained Gold Contained Silver gold; $18.50/oz silver. Reserves are tabulated at a 0.21 g/t gold cutoff grade. The topography date used for tabulating Cla
Slide 24: Reynolds Pit and Mordor Area
REYNOLDS PIT AND MORDOR AREA SIGNIFICANT ZONES OF GOLD MINERALIZATION Map of Section Lines Cross Sections through Mordor/West Pit Extension and Reynolds Pit/Mid-West Extension Reynolds Pit TSXV: ELVT ▪ OTCQX: EVGDF Au (g/t) >3.00 2.00 – 3.00 1.00 – 2.00 0.50 – 1.00 0.30 – 0.50 Drillhole grades N 0.1
Slide 25: Reynolds Pit & Mid-West Extension
REYNOLDS PIT & MID-WEST EXTENSION TSXV: ELVT ▪ OTCQX: EVGDF Note: For more information, see Elevation news release dated March 16, 2023, titled “Elevation Gold Intersects 100.58-Meter-Thick Zone with Average Grade of 0.50 g/t Gold in the Reynolds Pit Area West of Active Mining and 24 Provides Update
Slide 26: Reynolds Pit & Mid-West Extension
REYNOLDS PIT & MID-WEST EXTENSION Cross Section: RP6 TSXV: ELVT ▪ OTCQX: EVGDF Note: For more information, see Elevation news release dated March 16, 2023, titled “Elevation Gold Intersects 100.58-Meter-Thick Zone with Average Grade of 0.50 g/t Gold in the Reynolds Pit Area West of Active Mining and
Slide 27: Reynolds Pit & Mid-West Extension
REYNOLDS PIT & MID-WEST EXTENSION TSXV: ELVT ▪ OTCQX: EVGDF Note: For more information, see Elevation news release dated March 16, 2023, titled “Elevation Gold Intersects 100.58-Meter-Thick Zone with Average Grade of 0.50 g/t Gold in the Reynolds Pit Area West of Active Mining and 26 Provides Update
Slide 28: Reynolds Pit & Mid-West Extension
REYNOLDS PIT & MID-WEST EXTENSION Cross Section: RP3 E’ Cross Section: Reynolds Pit / Mid-West Extension • Looking West • 30 meter section width E Legend Topography North-dipping vein and stockwork structure TSXV: ELVT ▪ OTCQX: EVGDF Note: For more information, see Elevation news release dated May 2
Slide 29: Mordor / West Extension
MORDOR / WEST EXTENSION F’ F TSXV: ELVT ▪ OTCQX: EVGDF Note: For more information, see Elevation news release dated March 16, 2023, titled “Elevation Gold Intersects 100.58-Meter-Thick Zone with Average Grade of 0.50 g/t Gold in the Reynolds Pit Area West of Active Mining and 28 Provides Update on G
Slide 30: Center Pit / ROM Pad Ramp
CENTER PIT / ROM PAD RAMP G’ G TSXV: ELVT ▪ OTCQX: EVGDF Note: For more information, see Elevation news release dated October 31, 2022, titled “Elevation Gold Announces Recent Exploration Drilling Results that Continue to Demonstrate Moss Mine Expansion Potential and 29 Announces New Drilling Progra
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