Borealis Mining Company Limited · TSXV:BOGO
Borealis Mining — Investor Presentation (May 2026)
20 slides from Borealis Mining's investor presentation, May 2026
Slide 1: Corporate Presentation
TSXV: BOGO | FSE: L4B0 | OTCQB: BORMF Corporate Presentation May 2026
Slide 2: Forward-Looking Statements and Advisories
TSXV: BOGO | FSE: L4B0 | OTCQB: BORMF Forward-Looking Statements and Advisories Certain statements in this presentation (this “Presentation”) that are not statements of historical fact, including statements relating to each as more particularly described herein, may constitute “forward-looking state
Slide 3: Nevada Gold Producer with Multi-asset Pipeline
TSXV: BOGO | FSE: L4B0 | OTCQB: BORMF Nevada Gold Producer with Multi-asset Pipeline SANDMAN Top Rated Mining Fully Permitted Mine Jurisdiction & ADR Refinery Elko Nevada #1 in 2025 Fraser All infrastructure built & Institute Ranking operational at the Borealis Mine Active Gold Strong Pipeline Asset
Slide 4: Corporate Structure & Transaction Terms
TSXV: BOGO | FSE: L4B0 | OTCQB: BORMF Corporate Structure & Transaction Terms 9% INSIDERS Common Shares 146,678,978 ROB MCEWEN Warrants 9,927,175 33% 12% ERIC SPROTT Broker Warrants 1,123,359 9% INSTITUTIONS Options/RSUs 7,188,800 RETAIL Fully Diluted 164,918,312 Market Cap (May 6, ‘26) ~$177mm CAD
Slide 5: Board of Directors and Management
TSXV: BOGO | FSE: L4B0 | OTCQB: BORMF Board of Directors and Management Board of Directors Bob Buchan Richard Patricio Christina McCarthy Greg Gibson Kelly Malcolm CHAIRMAN CHAIR, AUDIT & GOVERANCE Current: CEO, Nuvau Past: President, Sprott Past: Founder & CEO, Kinross Current; CEO, Mega Uranium; M
Slide 6: Borealis Project
TSXV: BOGO | FSE: L4B0 | OTCQB: BORMF Borealis Project Prime Nevada Walker Historical Mine Significant In-situ Active Mine, Heap High-Grade Lane Location Being Re-Opened *Historical Resources Leach Pad, & ADR Exploration Potential ▪ 2 Hrs from Reno, NV; ▪ Historical production ▪ M&I resource of 1,83
Slide 7: Borealis Mine Highlights
TSXV: BOGO | FSE: L4B0 | OTCQB: BORMF Borealis Mine Highlights Historic Resource Discovered in 1978, initial production 1981- 1990 of ~500,000 oz at 2.02 g/t Au from 8 near- surface open-pit oxide deposits Recent Production Minor production recommenced in 2011-2013 & 2021-2022 for ~125,000 oz – Firs
Slide 8: Actively Advancing Mining
TSXV: BOGO | FSE: L4B0 | OTCQB: BORMF Actively Advancing Heap Leach Pad Mining Borealis Pit Stripping Deep Ore Flats Stripping Advancing & Extracting from East Ridge Pit Stripping on two historical pits – Deep Ore Flats & Borealis 88
Slide 9: Actively Processing Gold
TSXV: BOGO | FSE: L4B0 | OTCQB: BORMF Actively Processing Gold Heap Leach Pad & Crushing Spread – Mid-April 2026 Gold and Silver Dore Bars from Borealis Mine 99
Slide 10: Processing & Refining
TSXV: BOGO | FSE: L4B0 | OTCQB: BORMF Processing & Refining ▪ Oxide & transition ore mined and crushed to 5/8” then stacked on conventional cyanide-agglomerated heap pads. ▪ Borealis uses an ADR (adsorption, desorption, and refining) plant to generate final doré on site ▪ Doré processed and refined
Slide 11: Exploration Potential
TSXV: BOGO | FSE: L4B0 | OTCQB: BORMF Exploration Potential ▪ High Sulfidation Epithermal Gold System with multi-million oz gold endowment ▪ Two known styles of mineralization ▪ Surface oxides (known to extend up to 1,000 feet) ▪ Deeper sulfides (best historical drill intercept of 67.1 m of 16.2 g/t
Slide 12: High Grade Resource Expansion Potential
TSXV: BOGO | FSE: L4B0 | OTCQB: BORMF High Grade Resource Expansion Potential Oxide Target Sulfide Target These drill results are exploration targets and are conceptual in nature. There has been insufficient exploration to define a current mineral resource, and it is uncertain whether further drilli
Slide 13: Sandman Highlights
TSXV: BOGO | FSE: L4B0 | OTCQB: BORMF Sandman Highlights Near-Term Production Exceptional Economics SANDMAN Potential 2026 PEA for Sandman shows Updated PEA completed in 2026 presents US$203M 6% NPV at US$2,600 gold. ~35-40k oz/year production profile. <US$50mm Capex and short time to Elko Existing
Slide 14: Sandman PEA
TSXV: BOGO | FSE: L4B0 | OTCQB: BORMF Sandman PEA ▪ Exceptional IRR and NPV from Scoping economics. At US$2,600 per oz. gold, the 2026 PEA reports: Turquoise Ridge Sleeper ▪ US$203M NPV@6% (post-tax) Twin Creeks ▪ 105% IRR (post-tax) Midas ▪ 1.1 yr payback period Winnemucca Gold ▪ Low capital intens
Slide 15: Sandman Highly Sensitive to Gold Price
TSXV: BOGO | FSE: L4B0 | OTCQB: BORMF Sandman Highly Sensitive to Gold Price $6,000 Strong leverage to $5,000 the price of gold NPV@6% IRR Gold Price (after-tax) (after-tax) $4,000 Gold Price (US$) At USD$5,200/oz $1,950 $38.7M 32.2% NPV is $3,000 USD$860.6mm $2,600 $203.1M 104.9% $2,000 and IRR is
Slide 16: Sandman Exploration Potential
TSXV: BOGO | FSE: L4B0 | OTCQB: BORMF Sandman Exploration Potential ▪ Significant upside given Sandman's considerable underexplored nature and massive land package ▪ All deposits open for expansion, with only one feeder currently identified ▪ Gravity image shows significant gold bearing in the North
Slide 17: Sandman VRIFY Targets
TSXV: BOGO | FSE: L4B0 | OTCQB: BORMF Sandman VRIFY Targets Northern Half of Sandman PoO. ▪ AI Targeting performed on the Sandman property using regional and local geophysical survey, drilling and surface geochemical sample data, and spectral data. ▪ Drill targets and budget to be finalized for Sand
Slide 18: Big Balds Project
TSXV: BOGO | FSE: L4B0 | OTCQB: BORMF Big Balds Project ▪ Located on structural intersection of the Carlin Trend renowned Carlin & Bida Trends in Nevada ▪ Excellent access & logistics ~90 Bida minutes from mining hub of Elko, NV Trend ▪ Prospective for three Bald Mountain world-class styles of miner
Slide 19: Why Borealis – Why Now?
TSXV: BOGO | FSE: L4B0 | OTCQB: BORMF Why Borealis – Why Now? SANDMAN ▪ Pathway to growth Elko ▪ Borealis – mining + exploration ▪ Sandman – self funded Reno development + exploration BIG BALDS ▪ Big Balds – exploration optionality ▪ M&A – actively evaluating NEVADA opportunities ▪ Newest mining co
Slide 20: Kelly Malcolm, CEO
TSXV: BOGO | FSE: L4B0 | OTCQB: BORMF CONTACT Kelly Malcolm, CEO info@borealismining.com 289-371-3371 401-217 Queen Street West, Toronto, Canada, M5V 0R2 BorealisMining.com
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