Surrounded By Gold Fields: Harvest Gold's Quebec Opportunity

0:04 Good morning, good afternoon, good evening, depending on where in the world you're signing in from today. I saw it was a relatively international audience. I certainly appreciate everybody's time as they pop into the room. I'm fortunate today to be joined by Rick Mark Harvest Gold's President, CEO and Chair. Rick, how are you today?

0:17 I'm great, Romeo. Thank you. I'm excited about the opportunity and happy to have some visitors watching and listening. It's a great opportunity for the company. Awesome. Yeah. Like I said, we've got representation all the way from the West Coast through to, into Asia today. So we've got a nice audience. Yeah, so here's the format for folks in the audience. Here's how today's gonna go. After my housekeeping here, I got a couple of quick introductory questions for Rick, nothing too aggressive. And then he's gonna walk through a presentation for us, followed by a couple more questions for me, but then questions directly from you

0:49 guys, the live audience. So please use the chat box in the bottom right hand of your screen to ask questions at any time during today's event. If I, you know, if they fit directly into where my questions were going to go, I'll slide them right in, otherwise we'll get to them at the end. Now, if for whatever reason we don't get to your question today, I will pass it on to Rick and we'll get back to you as soon as possible. Today's event is being recorded and the replay is going to be available likely late this afternoon, Eastern time. That's enough out of me. Let's get straight into the protein. So Rick, first thing I wanted to ask you is what brought you into these projects

1:20 and into Quebec as a working jurisdiction? Well, it was a little bit of happenstance

1:26 and good fortune. We knew Quebec was a very good environment, both in terms of its metals endowment, especially gold. And I think politically, it's rated, I think, seventh in the world by the Fraser Institute.

1:42 I don't think you can work in, certainly in Canada, in a better place. So we're thrilled with it. As we'll show you, we think we have substantial opportunity in the gold belt and we like our properties, we like the size and I'll get a chance to introduce that to everybody today. Great. Looking forward to that. Now I understand, this is my last question before we get into the slides. I understand Crescat's a major investor in the company. So I'm curious, what's the timeline of that initial investment in the project? And what's your ongoing relationship with

2:15 them? Yeah, Crescat Capital joined us when we made an effort to find some gold in British Columbia about 3 or 4 years ago. And their lead guy, their geo guy is called Quentin Hennett. And he's very well respected gentleman. We had 4 meetings, met their senior management several times, really with myself and the GEO team, which includes one other director from the company. I think they gained a lot of trust in us. Quentin was an active part of the decision-making on where do we spend the money and where do we drill? And unfortunately,

2:48 the contact we made with something interesting was just too deep. We all felt we clipped the top of a porphyry and that's not why we were there. So we pivoted to Quebec. You'll see Crestcat now owns just about 20% of it. They continue to invest in the last 2 rounds since we got these Quebec properties, which I'll speak about in a few minutes. So I think from the point of view of the investor, What's important is this is early stage. And Crestcat is absolutely a sophisticated investor. They're looking at juniors all over the world. And they're taking a 20% stake in a company, I think because they know the management and geo teams, because they too think these properties have just such tremendous potential.

3:36 So they continue to be part of our team. And we don't do anything finally, if you like, without including Quentin and the geo team. Why not? Our philosophy is the more really good geologists looking at the challenge, the better. Awesome. Well, without further ado, then, I'm going to go ahead and let you get into your slides. So I'll jump off camera to clear people's screens a bit. But let's get started on your slide deck. OK. Now, this is an abridged version for this presentation, but I think it'll give you a feel of what we're attempting to accomplish in Quebec. So The first couple of slides are, as you would see in any presentation.

4:20 And the next 4 really are going to introduce you to where we are and why we like these projects so much. I think if you come back far enough, you see that we're in the Abitibi belt. When we say that to investors from around the world, they recognize it, they understand it. It's a belt well-known and rich, rich with successful mines.

4:44 Now, as we go further into it, Romeo, we take a look at where we are in that Abitibi Greenstone Belt. And it's called the Urban Berry Belt. It's a part of it in Quebec. And this is an interesting map because It shows the Gold occurrences on the Western side of the Urbanberry. You can see windfall there and the Berry and Gladiator deposits. And on the left, you can see the 3 Harvest Gold properties called Urbanberry, Masseau and LaBelle. And then down below, that's layered onto a geology map. So we can go to the next one and I think this is one of the powerful images and when I if I had 1 image to select to let people know why we think this is an exciting opportunity.

5:35 Everything in purple is owned by Goldfields and they just paid a Cisco $4 billion for the windfall deposit and all of these properties. And as you'll find out later, they've committed about a hundred million to exploration in the properties across the belt. I can say this, that in talking to the Quebec fund managers, they don't see opportunities in these juniors where companies like ours have properties of this size and we'll delve into further interesting value points on the size of the properties, but I think that is a great perspective on why we're excited about working in the urban barrier build.

6:22 Now, as we zoom further in, and you can see the 3 properties in the black outlines, you'll see that each of them is running across changing colors or context. And I'm going to read this quote to you on the right because it comes from Quentin at Crescat. And it says, Harvest Gold has assembled the 3 property district scale opportunity covering the contact between the Wilson Pluton and Volcanics. Now that is why Crescad owns 20% of the company. That is why. This contact includes what we call through going structures. And the through going structures run through each of these to the extent of about 50 kilometers worth of through going structures.

7:13 It's there that gold deposits are found.

7:18 Now, this is a summary. I won't read it to you. Bottom line it's quite remarkable we've got all the historic support from communities So you know that drilling costs are gonna be low. People can drive to the properties. The wildfires last year helped us. The trees are burned away. The exposure, of course, you've got windfall in the neighborhood and gold fields, as I mentioned. The geological setting we'll get into in a moment, the dots on the right, all of those things indicate that we're in gold country, as we'll show you a little bit more. 49 significant surface gold showings identified to date. That's historic on the Masso property, but really there hasn't been very much work done since the 80s and 90s. Only a little bit of work was done in the teens and nothing systematic or lengthy.

8:16 Urbanberry and labelle are literally untouched. Now, this is a few slides to walk you into what we know about Miseaux. And I love this one. It gives you a good look at what are called shear zones. And even a non-geologist as myself can see the interesting rocks available to us walking the ground. And one of our geos said at one point, the interesting thing here, Rick, is nobody's really looked at anything past 25 meters from the roadway. And again, speaks to how unexplored these properties are. This, when you dig into it, I won't read this to you, but these are drill holes and also grab samples.

9:06 And you can see all of those are above 2 grams per ton.

9:12 This is what it looks like. There's some core for the geos in the crowd. You'll like this. Our Geos love the rock sample. I think it's 5.43 grams a ton, but it's the quality and the type and the nature of the rock that gets them excited. They're gold bearing.

9:31 And we do have a historical drill hole that we put into our presentation. And I'll point out that it's open at depth. And I think the bottom reading there is somewhere around 4.2 grams over about 7 meters. So That's a good example of a shear zone that contains gold, and that's up in that northern area. You can see the work that's been done there historically.

9:56 So that was really what we know in a very quick summary, obviously. This is a quick look at what we've done. The most important aspect of our work this year was the high-resolution magnetic survey, and in many ways this talks about what today's exploration techniques mean. Look at the detail you get on the map on the left. You see a very small helicopter, which can fly close to the ground with today's technology. And on the right, you see what it looked like in the 90s with a clumpy plane that had to fly higher with obviously lower quality technology. And that was the result you got. So this is working, digging deeper in as the geologists start to let us know what that high res mag looked like.

10:43 And a couple of things, you can see there's Gold in the green, which is the lower mag areas, but they're also Gold running down these high mag ridges. And the guys are all excited on the image on the right of this dilation zone, which really indicates that fluids are present and active. And that's one of those breaks again, where you are looking for evidence of bigger gold occurrences and ultimately a deposit.

11:14 This is work also we did this summer. Because we hadn't been anywhere near the central area, no one else had either, we are waiting for Geochem results in that central area. We're very confident in our drill targeting work on the northern area, but we're waiting on the central area because that geochem and prospecting and assaying work will help us in determining drill targets in the central area of Miseaux.

11:45 And just one more look at the nature of the property while they're out doing a prospecting and mapping in that central area. So that was the work we accomplished this year. We flew the property, we did get on the ground and executed a thorough geochem program with some prospecting and mapping ahead of drilling. Just wanted to have a couple of slides to reference the 2 other properties. Urban Barrie is really untouched. It's right on the Urban Barrie belt. As we mentioned, it's 20 kilometers of that through-going structure or strike length, as it's referred to here.

12:28 Really not even touched yet. It's quite exciting. And then LaBelle down to the lower right of Miseaux, our lead guy in Quebec, Louis Martin, he said, Rick, you know, this, this Kias River fault keeps going all the way down into these properties that are unstaked to our Southeast. And so we grabbed LaBelle and sure enough, there's another 9 kilometers of 3 through going structure. We own that 100% now, And we have a little bit of obligation left to Urbanberry to own it 100% and the work we're doing this year, we hope will put us most of the way to owning 100% of Misseau in a joint venture with a company called Vior, who raised about 25 million this year. And really the Asisco mining team has now taken over management of Vior. So great addition for us as well. Very experienced people carrying a lot of weight in the Quebec environment. So that was a terrific move for Harvest Gold.

13:35 Just a moment on the geological team. I don't think anybody should look at investing in junior companies unless you have confidence in the geo team. These guys are fantastic. They're all tremendously experienced from different parts of the world and

13:51 different minerals, endowments. It's just tremendous to listen to them and work with them. And then when we add someone like Quinton to the mix or the VP from Vior who we talked to on Monday, we just add more experience and expertise before we make any critical decisions. So I think it's most important for you to know that this team is absolutely top rank. They hung with us, they're consultants which means that we don't pay them a heck of a lot, but they're a great group of guys to work with and they're very excited about the opportunity. Management team, I featured the 3 main guys. We've all run small companies and had lots of experience. Pat was the geologist I mentioned, and then our CFO and our independent director who's had some time in compliance.

14:43 So it's a board that has been together for 7 years. Each of us has a role and worked very well in maximizing shareholders' money and making sure it goes into the ground.

14:57 So in summary, Romeo and everyone listening, I think we've got 3 significant projects. We can get a chance to own 100% of them and I was pleased when negotiating these. I felt that was important for shareholders of small companies to have that shot. Secondly, the fact

15:18 that when Goldfields has taken out of Cisco and laid a value on this belt is nothing but good for Harvest Gold. Goldfields will be exploring the belt beside us. We've already had a team meeting with the Goldfields exploration team, each of the guys, again, ExoCisco, 10 years in the belt. So we're hoping to be able to work with them as we work towards discovery. I mentioned our teams, the opportunity in Quebec is tremendous. And as I mentioned, the agreements are good. I'll say with this up ladies and gentlemen that this is a discovery play and discovery is what you want to be investing at this at this moment if you're looking for the big upside. It's risky of course, of course. Our market cap today is about 3 million dollars.

16:13 Cisco just bought,

16:16 Goldfields just bought Windfall for 4 billion. So it's possible and Romy and I'll talk about that in a minute, but I think Romeo, that's a quick run through. The latest version of that is up on the website if you want more detail. We're expecting the final prep version up next week, which we will then be going to talk to investors about more formally.

16:43 Awesome. I appreciate that very much. I know there's some great questions in the chat already. I just got a couple more for myself, I promise, and then I'll throw it to those ones that just popped into the chat. First one, Rick, I know we called this event Surrounded by Goldfields. I know we already touched on it when you looked at that map. I'm curious if you could just give me and the audience a bit more of a rundown of the property surrounding you guys and the belt in general. What's so exciting about working here based on recent transactions and events? Well, I think the map tells the story, as I said, that's why Crescat's in play.

17:19 In talking with the VP of VOR who worked with Asisco for 10 years he talked more Romy about the area around Masso which is less known if you like he said probably we can see about 1.5 million ounces endowment up in that area and Asisco originally was talking about building their mill on our end of the belt until windfall started to develop. Now, because those things are all owned by different companies, They're smaller deposits or

17:49 showings, let's call them. They haven't yet got the cachet, if you like, that Windfall has. But I think it points again to the nature of the belt. There's Gold everywhere. And you can see on Misseau, they've had a chance to touch into that Gold endowment on Masso.

18:07 But really, the key is that the new technology and the systematic driving towards more drilling, testing, more drilling, testing hasn't been done yet. I gotta get out the truth machine till they get it. There's one question I always like to ask and that's what are your long-term objectives for these projects and the company? And that includes your upcoming exploration development milestones and for investors in the room, potential exit strategies?

18:33 Well, this is a discovery investment. And I used to have a chart in every presentation we did where you see this incredible leap up the curve upon discovery. Investors today are looking at this as a discovery vehicle. I'll reference, and for those of you who don't know, I ran a company in the O's from about 07 to 13 called VMS Ventures. I like to tell the story that we went into Toronto and raised money, about $700,000 at 6 cents with Griffiths McBurney as our base investor. Just like this, Romeo, we had a map. We had a map of Manitoba and we said, all of those mines up there don't have till or soil covering the ground.

19:19 And so they've been found, what we believe is there's all kinds of mines below this line, which happened to be the highway from Snow Lake to Flint Flawn. And sure enough, they fed us a little bit of money. We raised a little more at $0.15.

19:33 We made a discovery, a tremendously rich Copper discovery. And then they led our $20M financing at $1.50. And so, discovery drives that kind of return. And if you're a discovery investor, sell the bloody stock along the way, because at that point you find out how big the mine is going to be. Different investors come in and play.

19:56 Reed did become a mine, we were very proud of that in terms of it actually produced and sent ore to Flint Flawn. But the highest point and the greatest value we got was at that point when the market recognized the potential of now a mine development that only came after discovery. Now, appreciate all that context very much. I think that's great. Now, Rick, I'm always eager to chat with companies and kind of the sweet spot for exploration along the Lassonde curve, because there's so much potential excitement. Now, you mentioned today and to me in the lead up to this event about the power of discovery. My question to you, and this is just before I'll shoot it to the questions in the audience. How does a company like Harvest Gold succeed?

20:37 What is your overall philosophy and strategy there? Well, most important is the geo team. I mean, This is a complicated science. I've known these guys for years. One of the guys on that chart was with me with VMS. He's now the VP Exploration for HUD Bay. Neil is just a fantastic guy. He's the best economic geologist I've ever worked with.

21:03 We looked at Maso and I said, so Neil, are we looking at a million ounce deposit up here and trucking it down to windfall? He goes, Ricker, we're not. No, no, there's look at all the showings on this ground. He has something like a $50 million budget for Manitoba.

21:20 He's saying, no, no, no, they're the first million ounces is here and the second million ounces in the center. And he's got this vision of these properties. And this guy, This is what he does for a living now. He has to go to places that people haven't looked at. He has to go to places that haven't been worked on. These belts that have all this hidden potential.

21:42 So that's what's most important. I'll say it again, the GEO team matters. Of course, the deal matters. I think they're friendly to the shareholders of Harvest Gold. The partners matter. I really like working with Vior. The environment matters. We can't be in a better place than Quebec. And then the investors have to trust that we're wise enough to use the money in as good a way as possible. And that gets down to pointing the drills. And that is a team decision. It's not made by 1 one person.

22:15 No, great. I'm gonna throw some questions in the chat. There's some good ones came from the chat as does Chris get an opportunity to buy in more into the company? Of course, and we expect them to be participating in our next round. Great.

22:30 Jan from the chat asks, is there any geological exchange with Goldfields? Have they been to harvest Stateroom, for example? No, we're not that far along, but it's a good question because we were pleased. I went ahead and reached out to their new VP. And again, all these guys came from Missisco. And he said, Well, it's interesting, we were talking about you last week. And the reason they were talking about is, is because of the map I showed you, of course, they, they know our land position. So we had a chance to meet with 5 of their guys, all of whom have spent 10 years on that Urbanberry belt, Romeo. So think about what that means, adding value

23:09 to our team and looking at this. So we're not at a data room place yet, but we have made that initial foray. We spent an hour and a half with them, geo team to geo team, and I'm looking forward to meeting with their VP again. Great, I appreciate that answer. A couple of questions that got in on email, and then I'll get into the questions about drilling in the chat, So 2 seconds for you guys.

23:32 The 2 questions that came in on email are kind of the same vein. So I'm gonna combine them together. And that's, what do you think is the next major event that will impact the stock price? Well, I think once we get drilling, you get that anticipation of drill results. That's a natural moment. It's interesting, we haven't yet seen the bloody gold price influence the little guys. Over $2,700. We're sitting surrounded by gold fields and yet I would say 10 years ago when this kind of investment was

24:08 well known on the risk side, our story, the stock would be much higher. But risk money has gone to different areas. So that's one of the reasons, Romeo, we decided to work with you guys to reintroduce ourselves to investors who still are very interested in the reward that comes out of discovery. So I think really drill results drive everything. I hope when people hear that CrestCat's with us and has that meaningful investment, they're not feeling alone. We've been vetted to a certain extent. I love that. I'm very proud of that. And that reflects our team and their confidence in where we are and the fact that they love these new properties in Quebec. Awesome. Now, there's just questions about this year's drilling campaigns. I'm gonna kind of combine them and throw it to you. Really, the question is, What is Harvest Gold aiming for this year in terms of dollars and for how many meters of drilling are you hoping to get out of 2025?

25:06 Meters of drilling is always related to the amount of money you raise. Sure.

25:12 On an upside, if we could raise $1.5 million, we'd put at least $1 million into drilling. The drilling costs in Quebec are tremendously competitive. I would say low, surprisingly low. So that would put us in the up to 5,000 metre range if we're able to raise and put a million dollars into the ground. And then it's going to be a matter and we'll sort this out over the next couple of months ahead of actually drilling is choosing those targets. As I mentioned at this moment, the team feels we should put about 50% into the northern area where more is known. But that's the reason we like the central area, Romeo, as you see that Kiask River fault going right through it. That's really where it was interesting, one of the Goldfields geos mentioned it, the so-called through going structures.

26:04 That's where the action takes place. When you find cross-cutting structures across those faults, very little has been done down there. So there's part of the team that wants to do more drilling in the unknown. So that's always a tension that exists even within each geological team. So I think that satisfies that question. No, definitely. I can't answer it too much more specifically than that. No, no, I think that's a great answer. Find 1 fun question from the chat. Somebody says, your approach to exploring Moseau reminds them of Great Bear. And they're curious if you're chatting or betting with Chris Taylor about whether Harvest Gold is next. You know, I'm not. Eric Coffin was with us through our time in British Columbia. And at that moment, the Great Bear explosion happened and Eric and his subscribers were big, big shareholders that they were among the happier people I'd known at that time.

27:02 And that's what it's about. I offer you again, go back and look at the VMS ventures chart. We've sort of been there. It's a it's it's just an exhilarating exciting time and That's what keeps everybody alive these jails Christ. They they never retire. They just want to be in on a discovery. They want to be in on a discovery, which is fun. I mean, it's strangely fun. And I just can't say enough about our group and how well they work together. That's great. One question, new one that just came in from the chat from an M. Curtis, wants you to do a bit of crystal ball gazing if you don't mind. He notes that with a 2.8 to 3 million market cap right now, if you do get fully financed for 2 years of drill programs, What's a blue sky market cap in 2 years that you can conceive of? Well, again, it's just amazing what 1 good drill hole does.

27:56 Sure. So I've described what happens with 1 good drill hole. I mean, now, now the eyes of the world are upon you. The sharing that goes on immediately with that news release is beyond anything we could describe. I mean, literally the term going viral reflects that. And that's how small this audience is. So we need more partners. Can we get Goldfields to invest in Harvest Gold? That would be good. Maybe it's a little bit too early. They're just finding their footing, but we've already met them. The Vior guys know them very well. We'll have Vior supporting us. Those kinds of things that continue to give confidence to the investment community that this is a real deal, if you will, Romeo, make a difference. But ultimately, I think it's drill results. We'll see what we get out of the ground results, but ultimately it's drill results. And I think given 2 winters of drilling, this winter and next, I think we'll have established ourself as a live, healthy player in the belt. And there's no question that we're going to be trading at a higher market cap. How high we go really depends on the the the grade and the excitement around the discovery and that's how you grow your company so each drill program is very important.

29:19 I lost you there Romeo. Because I was on mute like a jerk. Thanks for letting me know. Well, a lot of exciting stuff there. It looks like we have at the end of questions. So appreciate very much, Rick, going through all those details and let me grill you for a few seconds. And for all the folks that joined and folks watching on replay, thank you so much for your time as well. Think we got through most of the questions. So Rick, I'm gonna throw it to you for some last words before we jet. Well, if you're interested in learning more, I'm available. I think Romeo is making contacts or making notes about who would like to talk to me individually. I'm happy to do that. I think one of my important jobs is to talk to shareholders and investors. I enjoy it. I think you can sense that I'm enthused about the opportunity. So please let Romeo know if you want to arrange something where we talk personally, that would be helpful.

30:13 If you're interested in being involved in future financing, that's important to the company as well. So I offer that opportunity. And again, you can work through through Romeo to let me know about that. Otherwise, I just encourage you to get us on your watch list and Let's see how we do. I think we've got a strong shareholder base. We've got large shareholding in Europe. We know that. We're thrilled with Crestcat. It's just gonna be exciting few months here for the company. Awesome. One last question sneaking in from Cody, right at the wire. You're going to be a PDAC, correct? I doubt it. Again, I just don't think we're big enough yet. I don't think we can justify the expense.

31:01 We'll have our money raised before then I think it's better for us to be working and delivering to the shareholders ahead of getting in the milieu of PDAC even in the VMS days Romeo I hated the booth we set up a wine and cheese opportunity we had meetings arranged and all of our shareholders investors could come and meet us And we had the same place every year so people knew where we were. But I felt I'd much rather be arranging meetings with financiers and investors than standing at a booth all day, often not seeing many folks. So at this point, I think we're too small. I don't think it's worth our time or money this year. Now, if we're at a different level after our first drill program or 2, then of course we'll be there. I'll also say Pat Donnelly, director of the company jumped into the chat and said he'll be at PDAC. So if you do have questions about Harvest Gold at the show, Pat will be there for you.

31:58 Thanks Pat, good man. Awesome, Rick, again, thank you so much. And everybody who joined, thank you again. Have a great end of your day. Thanks, Romeo. Really enjoyed it. ♪♪