MT Todd Gold Project

• Demonstrated economic feasibility
• Design for near-term development
• Tier 1 jurisdiction

Enviromental, Social and Governance

• Transparency and accountability
• Sustainable and socially responsible development
• Best corporate governance practices

 Mt Todd
A Leading Development Opportunity

• Mid-scale, high quality gold deposit
• Designed for near-term development
• Optionality to develop as a large or mid-scale project
• 2025 Mt Todd Feasibility Study
  • Initial capital cost of $425 million
  • Average ore grade of 1.04 g Au/t years 1-15
    • 0.97 g Au/t life of mine 
  • Production of 153koz years 1-15
    • 146 koz over 30-year life of mine
  • Contract mining and third-part power generation reduce capital costs and operational risk

Note: 2025 Mt Todd feasibility study.

Strong Economics and Rising Gold
      Price Environment

• At $2,500 gold price
  • After-tax NPV (5%) US$1.1 billion
  • After-tax IRR 27.8%
  • Payback 2.7 years
• At $3,300 gold price
  •  After-tax NPV (5%) US$2.2 billion
  • After-tax IRR 44.7% at $3,300/oz
  • Payback 1.7 years
• Strong leverage to the gold price
  
  

Note: 2025 Mt Todd feasibility study.