Slide 1: Strategic Alliance, Equity Financing, Royalty Sale
STRATEGIC ALLIANCE EQUITY FINANCING ROYALTY SALE VALIDATE JAPAN GOLD’S PORTFOLIO AND OPERATIONAL TEAM TSXV | JG OTCQB | JGLDF OCTOBER 2026
Slide 2: Forward-Looking Statements
FORWARD-LOOKING STATEMENTS Certain of the statements made and information contained herein is “forward-looking information” within the meaning of the British Columbia Securities Act and applicable Canadian securities laws. These statements relate to future events or the Company's future performance.
Slide 3: Strategic Alliance: Solidcore Resources plc
STRATEGIC ALLIANCE: SOLIDCORE RESOURCES PLC • FORMERLY LISTED ON LSE AS POLYMETAL INTERNATIONAL plc • US$5.5 BILLION MARKET CAP LISTED ON AIX • US$348 MILLION FREE CASH FLOW IN 2025 • OPERATES TWO GOLD MINES, INCLUDING LARGEST MINE IN KAZAKHSTAN • ~400Koz PRODUCTION IN 2025 • STRONG TECHNICAL AND FI
Slide 4: Transformative Strategic Alliance and Funding
TRANSFORMATIVE STRATEGIC ALLIANCE AND FUNDING $50 Million of Committed Capital - Includes: Strategic Alliance with Solidcore $35 Million (US$25M) Equity Financing at a Premium to Market $10.5 Million Royalty Sale to OR Royalties Inc. $4.2 Million (US$3M) 4 TSXV | JG OTCQB | JGLDF
Slide 5: Strategic Alliance: Solidcore Resources
STRATEGIC ALLIANCE: SOLIDCORE RESOURCES EARN-IN AGREEMENT WITH NON-DILUTIVE $35M $35M (US$25M) (US$25M) COMMITMENT Structured earn-in to focus on 5 Target Areas. NON-DILUTIVE FULLY FUNDED EXPLORATION $35 million (US$25M) expenditure commitment for a 3-year COMMITED EXPENDITURE staged exploration pro
Slide 6: Equity Financings: Strategic Investment
EQUITY FINANCINGS: STRATEGIC INVESTMENT SOLIDCORE $9.5M FINANCING AT PREMIUM TO MARKET $10.5M EQUITY FINANCING The private placement financing establishes Solidcore as a long-term strategic shareholder. PREMIUM TO MARKET LONG TERM COMMITMENT Solidcore has the right to maintain pro-rata % ownership i
Slide 7: Non-Dilutive Royalty Sale
NON-DILUTIVE ROYALTY SALE OR ROYALTIES INC. 2026 SALE US$3M FOR 0.5% NET SMELTER RETURN ROYALTY Brings royalty interest to 2% 2025 SALE US$5M FOR 1.5% NET SMELTER RETURN ROYALTY Covers property portfolio in Japan PROCEEDS FUND EXPLORATION Proceeds to accelerate exploration across property portfolio
Slide 8: Solidcore Alliance Proposed 36 Month Plan
SOLIDCORE ALLIANCE PROPOSED 36 MONTH PLAN Timeline Q4 2026 Q1/Q2 2027 Q2/Q3 2027 Q3/Q4 2027 Q2/3/4 2028 2029 Committed Expenditures $3M $14M $11M $7M Target Areas Bajo Bajo Hakuryu Mizobe Hakuryu Planned Drilling 2,000 m 10,000 m 3,500 m 6,000 m 4,000 m TBD Aibetsu 4,500 m Ryuo 4,500 m Technical Rev
Slide 9: Why Is the Alliance Exceptional?
WHY IS THE ALLIANCE EXCEPTIONAL? ✓ Strong financial partner with a long-term growth strategy ✓ Committed capital ✓ Fixed timeline for funding ✓ Concentrated on 5 Target Areas ✓ Focussed to achieve meaningful results ✓ Immediate accelerated exploration programs, building on Japan Gold’s decades of op
Slide 10: Japan Gold Districts
JAPAN GOLD DISTRICTS HOKKAIDO Sado Mine 2.5Moz Au Konomai 1601-1989 Mine 2.35Moz Au HONSHU 1915-1973 Hokkaido Base Taio Mine KYUSHU 1.2Moz Au 1903-1973 Hishikari Mine 8.76Moz Au Tokyo 1985-present Japan Gold KK Head Office Kushikino Mine 1.8Moz 1914-1974 Historic/Active Mines Kyushu Base Japan Gold
Slide 11: Hokkaido
HOKKAIDO SOLIDCORE ALLIANCE TARGET AREAS 1. Hakuryu – 9,765 ha 2. Ryuo – 10,638 ha 3. Aibetsu – 11,006 ha Konomai Mine 2.3 Moz Au @6.4 g/t 11 TSXV | JG OTCQB | JGLDF
Slide 12: Hokkaido: Hakuryu
HOKKAIDO: HAKURYU 2025 Drill Program • 3 drill holes, totalling 565.70m, demonstrated continuity of mineralization along 145 m strike length • Best results: 24.1 g/t Au over 0.6m CSAMT/AMT GEOPHYSICAL SURVEY • Survey identified multiple resistivity anomalies that correlate with previously mapped sur
Slide 13: Hokkaido: Ryuo
HOKKAIDO: RYUO 2026 Program • Geological mapping & modelling • Soil sampling and geophysics surveys • Planned 4,500m drill program in 2028 Past Drilling 20 drill holes completed totalling 7,162.7 metres • Five areas of historic workings: Jinja, Shouei, Taisei, Buryu and Ryuei • The workings were dev
Slide 14: Hokkaido: Aibetsu
HOKKAIDO: AIBETSU 2026 Program • Mapping • Drill Targeting • Planned 4,500 metre drill program in 2028 Overview • The Tokusei mine produced 38,580 ounces of gold and 472,620 ounces of silver, mined from quartz-adularia veins between 1930-1942 • Limited exploration by the Metal Mining Agency of Japan
Slide 15: Middle Kyushu Hokusatsu District
KYUSHU MIDDLE KYUSHU Bajo Mine - 421 koz Taio Mine - 1.15 Moz HOKUSATSU DISTRICT Japan’s premier epithermal region with multiple historic gold mines Over 12 million ounces of gold produced Hishikari Mine – 8.76Moz Au Yamagano Mine – 0.9Moz Au Kushikino Mine – 1.8Moz Au Ohkuchi Mine – 0.7Moz Fuke Min
Slide 16: Middle Kyushu: Bajo
MIDDLE KYUSHU: BAJO Bajo Mine 421koz Au 1910-1950 Saganoseki Smelter & Refinery Taio Mine 1.2Moz Au Operated by JX Metals Smelting Co., Ltd., 1903-1973 group company of JX Nippon Mining & 16 TSXV | JG OTCQB | JGLDF Metals Corporation
Slide 17: Middle Kyushu: Bajo 3D IP Geophysical Survey
MIDDLE KYUSHU: BAJO 3D IP GEOPHYSICAL SURVEY • 37.6 line-km of 3D Induced Polarization and resistivity surveyed over 8 km × 5 km area • Identified multiple chargeability and resistivity anomalies, which are interpreted to be similar to geophysical signatures associated with areas of historical gold-
Slide 18: Kyushu: Mizobe
KYUSHU: MIZOBE Mizobe – 3,495.9m drilled 18 TSXV | JG OTCQB | JGLDF
Slide 19: Kyushu: Mizobe
KYUSHU: MIZOBE 9 holes drilled for 3,495.9m CSAMT/AMT GEOPHYSICAL SURVEY • 21.3 line-kilometre CSMAT/AMT survey provided comprehensive subsurface resistivity imaging • Refined geological model highlights key structures and potential hydrothermal fluid pathways Planned 6,000m drill program in 2027 19
Slide 20: About Japan Gold
ABOUT JAPAN GOLD 20 TSXV | JG OTCQB | JGLDF
Slide 21: Explorer, Project Generator, Operator
EXPLORER PROJECT GENERATOR OPERATOR Japan Gold is the largest mineral exploration company in Japan, leveraging first mover advantage and focusing on the exploration and development of high-grade epithermal gold deposits. With deep technical capabilities and in-country expertise, our technical team h
Slide 22: Why Japan?
WHY JAPAN? • HISTORY OF HIGH-GRADE GOLD MINING • PROVEN DEPOSITS OF ECONOMIC SCALE • UNDER EXPLORED WITH MODERN METHODS • LOW CAPEX POTENTIAL • SIGNIFICANT INFRASTRUCTURE • SAFE JURISDICTION • LOW ENVIRONMENTAL IMPACT • MINING FRIENDLY REGIME 22 22 TSXV TSXV||JG JG OTCQB OTCQB || JGLDF JGLDF
Slide 23: Investment Thesis
INVESTMENT THESIS • WELL ESTABLISHED IN-COUNTRY AS FIRST MOVER • PROVEN WORLD CLASS TEAM • STRATEGIC ALLIANCE WITH SOLIDCORE • FULLY FUNDED DRILL PROGRAMS •• DISTRICT SCALE PORTFOLIO WITH PIPELINE OF PROJECTS • 52% INSTITUTIONAL SHAREHOLDERS AND 24% MINING INDUSTRY HOLDERS • DRILLING FOR DISCOVERIES
Slide 24: Conventional Search Space
CONVENTIONAL SEARCH SPACE JAPAN’S RICH HISTORY OF GOLD MINING 500 YEARS OF GOLD MINING • PRE-WWII 76 GOLD PRODUCING MINES: ➢ SADO MINE – 2.5 Moz ➢ KONOMAI MINE– 2.35 Moz ➢ KUSHIKINO MINE– 1.8 Moz ➢ TAIO MINE – 1.2 Moz ➢ TAKATAMA MINE – 930,000 oz ➢ YAMAGANO MINE – 900,000 oz • WWII GOVERNMENT CLOSUR
Slide 25: New Search Space
NEW SEARCH SPACE 1981: CONCEALED ORE BODY DISCOVERED Sumitomo Metal Mining Co., Ltd. KYUSHU ISLAND Hishikari Mine • DISCOVERY OF HISHIKARI DEPOSIT 15 centimeters of 290 g/t Au at 200m • 1985: HISHIKARI MINE BEGINS PRODUCTION ~13 Moz Au DEPOSIT - 8.76 Moz MINED1 (1985-2025) 20 GRAMS PER TON – 5 TIMES
Slide 26: Recent History in Gold Exploration
RECENT HISTORY IN GOLD EXPLORATION 2012 MINING ACT CHANGES – OPENS THE DOOR FOR FOREIGN EXPLORATION 2013 – 2026 JAPAN GOLD ENTERS JAPAN • AS THE FIRST MOVER, SECURES LARGEST LAND PACKAGE OF PROSPECTIVE MINERAL RIGHTS IN JAPAN ~3,000 SQ KM SURROUNDING HISTORIC MINES AND THE HISHIKARI MINE • COMPLETES
Slide 27: Japan Gold Project Generator Expertise
JAPAN GOLD PROJECT GENERATOR EXPERTISE • IN-COUNTRY EXPERTISE SINCE 2013 • TOKYO ADMINISTRATIVE OFFICE AND FIELD OFFICES IN KYUSHU AND HOKKAIDO • PERMITTING TEAM MANAGING 27 PROJECTS WITH 915 ACCEPTED PROSPECTING RIGHTS APPLICATIONS, INCLUDING 385 GRANTED PROSPECTING RIGHTS • HIGHLY SKILLED EXPLORAT
Slide 28: Compelling Economics for Mine Development
COMPELLING ECONOMICS FOR MINE DEVELOPMENT Toyo Smelter & Refinery in Japan Japanese epithermal projects provide silica/flux for domestic smelters, offering compelling economic model for new miners of epithermal gold deposits Japanese base metal smelters Directly shipping silica-rich gold import raw
Slide 29: Board of Directors
BOARD OF DIRECTORS CEO Lead Independent Independent Chairman Director Director Director Director John Proust Murray Flanigan Takashi Kuriyama Ian Burney Dr. Keiko Hattori Founder, 35+ years Corp Exec CPA, CA, CFA, 25+ years 40 years at Sumitomo Metal Former Ambassador to Japan, Professor Emeritus Un
Slide 30: Proven Management and Advisors
PROVEN MANAGEMENT AND ADVISORS CEO COO CFO VP Exploration GM VP Corp Chairman Director Administration Communications John Proust Takashi Kuriyama Vince Boon Jason Letto Masanao Kusui Alexia Helgason Founder, 35+ years Corp Exec 40 years at Sumitomo CPA, CA 15+ years 21 years with Vale, track 18 year
Slide 31: Share Structure
SHARE STRUCTURE OWNERSHIP Institutions & Funds 418,890,051 6% 3% Public Float Shares Issued & Outstanding 18% Solidcore 9,985,000 Options 52% Newmont 31,403,989 21% Management Restricted Share Units & Insiders 5,703,310 Strategic Alliance Royalty Sale Non-Dilutive Funding Solidcore Warrants $35M $11
Slide 32: Hokkaido Shed Interior
HOKKAIDO SHED 1 INTERIOR HOKKAIDO BASE HOKKAIDO SHED 3 INTERIOR HOKKAIDO SHED 2 INTERIOR 32 TSXV | JG OTCQB | JGLDF
Slide 33: Kyushu Base
KYUSHU BASE CORE SHED SLAB AND ROCK LIBRARY 33 TSXV | JG OTCQB | JGLDF
Slide 34: State-of-the-Art New Drilling Equipment
STATE-OF-THE-ART NEW DRILLING EQUIPMENT Multi Power Discovery II 34 TSXV | JG OTCQB | JGLDF
Slide 35: In-House Drilling Team
IN-HOUSE DRILLING TEAM Jason Letto, VP Exploration 35 35 TSXV | JG OTCQB | JGLDF
Slide 36: Japan Gold Pipeline Areas
JAPAN GOLD PIPELINE AREAS 36 TSXV | JG OTCQB | JGLDF
Slide 37: Pipeline Areas
PIPELINE AREAS HOKKAIDO Sado Mine 2.5Moz Au Konomai 1601-1989 Mine 2.35Moz Au HONSHU 1915-1973 Hokkaido Base Taio Mine KYUSHU 1.2Moz Au 1903-1973 Hishikari Mine 8.76Moz Au Tokyo 1985-present Japan Gold KK Head Office Kushikino Mine 1.8Moz 1914-1974 Historic/Active Mines Kyushu Base Japan Gold Projec
Slide 38: Project Generator Model
PROJECT GENERATOR MODEL EXPOSURE TO MULTIPLE PIPELINE PROJECTS 22 Years of disciplined and systemic exploration have assembled an impressive portfolio of highly Projects 44 prospective projects Prospects 51 Sub Prospects 38 TSXV | JG OTCQB | JGLDF
Slide 39: Pipeline Areas
PIPELINE AREAS ISLANDS HOKKAIDO HONSHU KYUSHU KYUSHU KYUSHU J1 J2 J3 J4 J5 Kitami Noto Middle Northern Southern Project Groupings Province Peninsula Kyushu Hokusatsu Hokusatsu Ikutahara/ Principal Project Kanehana Togi North Taio Ebino Kushikino Iriki Tobaru/Tobaru- Secondary Project Sanru Togi Exte
Slide 40: Hokkaido: Kitami
HOKKAIDO: KITAMI J1 KITAMI Principal Project: Ikutahara/ Kanehana Secondary Project: Sanru Sanru Mine Exploration Projects: 225 koz Au @7.4 g/t Konomai Numanoue Mine 2.3 Moz Au Kamimuri @6.4 g/t 40 40 TSXV | JG OTCQB | JGLDF
Slide 41: Noto Peninsula
NOTO PENINSULA Sado Mine 2.5Moz Au 1601-1989 J2 NOTO PENINSULA Principal Project: Togi Secondary Project: Togi Ext 41 41 TSXV | JG OTCQB | JGLDF
Slide 42: Middle Kyushu
MIDDLE KYUSHU J2 MIDDLE KYUSHU Principal Project: North Taio Taio Mine 1.2Moz Au 1903-1973 42 42 TSXV | JG OTCQB | JGLDF
Slide 43: Northern Hokusatsu
NORTHERN HOKUSATSU J4 NORTHERN HOKUSATSU Principal Project: Ebino Secondary Project: Fuke Mine 96,452 oz Au Tobaru Exploration Projects: Tobaru-Fuke Kurino Isa Ohkuchi Mine 707,316 oz Au 13.6 g/t 43 43 TSXV | JG OTCQB | JGLDF
Slide 44: Tobaru–Ebino
TOBARU–EBINO NW TRENDING ALTERATION CORRIDOR • 4 zones of advance argillic alteration related clay alteration situated on a major northwest trending gravity gradient • Highly prospective corridor as the higher-grade veins systems at Hishikari, Okuchi and Fuke sit outboard of this zone • Limited hist
Slide 45: Southern Hokusatsu
SOUTHERN HOKUSATSU Fuke Mine J5 SOUTHERN 96,452 oz Au HOKUSATSU Yamagano Mine 900,221 oz Au Principal Project: 17.4 g/t Kushikino-Iriki Secondary Project: Gumyo Exploration Projects: Mizobe West Kowa Onoyama Kushikino Mine 1.8 Moz Au Mizobe Onoyama 6.7 g/t Onoyama-Yamagano Ohra-Takamine OT-Yaeyama 4
Slide 46: Why Invest with Japan Gold in Japan?
WHY INVEST WITH JAPAN GOLD IN JAPAN? Unique exploration opportunity to unlock high grade epithermal gold deposits Japan has: Japan Gold has: Low geopolitical risk New search space World Class team with a proven with a stable mining identified with focused track record of discoveries regulatory regim
Slide 47: Follow Us On: @JapanGold
Corporate Office Suite 650 - 669 Howe Street Vancouver, BC V6C 0B4 Canada Phone: +1 (778) 725-1491 Alexia Helgason VP Corporate Communications Email: ahelgason@japangold.com Tokyo Office ARK Hills Executive Tower, Suite 801 1-14-5 Akasaka, Minato-ku Tokyo, Japan John Proust Representing Director JGK