#121819 JAPAN GOLD CORP. Corporate Presentation July 20, 2021 TSX-V: JG OTCQB: JGLDF#2Forward-looking Statements JAPAN GOLD CORP. Certain of the statements made and information contained herein is "forward-looking information" within the meaning of the British Columbia Securities Act. These statements relate to future events or the Company's future performance. All statements, other than statements of historical fact, may be forward-looking statements. Generally, these forward-looking statements can be identified by the use of forward-looking terminology such as "anticipates”, “plans”, “budget”, “scheduled”, “continue”, “estimates”, "forecasts", "expect", "is expected", "project", "propose”, “potential", "targeting", "intends", "believes" or variations of such words and phrases or statements that certain actions, events or results "may", "could", "would", "might", or "will be taken", "occur" or "be achieved" or the negative connotation thereof. These statements involve known and unknown risks, uncertainties and other factors that may cause actual results or events to differ materially from those anticipated in such forward-looking statements. The Company believes that the expectations reflected in those forward-looking statements are reasonable, but no assurance can be given that these expectations will prove to be correct and such forward-looking statements included in this presentation should not be unduly relied upon by readers, as actual results may vary. In particular, this presentation contains forward-looking statements, pertaining to the following: capital expenditure programs, development of resources, treatment under governmental and taxation regimes, expectations regarding the Company's ability to raise capital, expenditures to be made by the Company on its properties and work plans to be conducted. With respect to forward-looking statements listed above and contained in the presentation, the Company has made assumptions regarding, among other things: uncertainties relating to receiving mining, exploration and other permits in Japan; the impact of increasing competition; unpredictable changes to the market prices for gold, copper, and other minerals; exploration and developments costs for its properties in Japan; the availability of additional financing and farm-in or joint- venture partners; anticipated results of exploration and development activities; and the Company's ability to obtain additional financing on satisfactory terms. The Company's actual results could differ materially from those anticipated in these forward- looking statements as a result of the risk factors set forth below and elsewhere in this presentation: volatility in the market price for minerals; uncertainties associated with estimating resources; geological, technical, drilling and processing problems; liabilities and risks, including environmental liabilities and risks, inherent in mineral operations; fluctuations in currencies and interest rates; incorrect assessments of the value of acquisitions; unanticipated results of exploration activities; competition for, amongst other things, capital, undeveloped lands and skilled personnel; lack of availability of additional financing and farm-in or joint venture partners; volatility in the market due to the Covid-19 pandemic; and unpredictable weather conditions. Although the Company has attempted to identify important factors that could cause results to differ materially from those contained in forward-looking statements, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements. Readers are cautioned that the foregoing lists of factors are not exhaustive. The Company does not undertake to update or revise any forward- looking statements, whether as a result of new information, future events or otherwise, except in accordance with applicable securities laws. The technical information in this document has been reviewed by Japan Gold's Vice President of Exploration, Andrew Rowe, BAppSc, FAusIMM, FSEG, who has sufficient experience relevant to the style of mineralization under consideration and qualifies as a Qualified Person as defined by National Instrument 43-101. TSXV: JG | OTCQB: JGLDF 2#3Investment Highlights First mover advantage in Japan 2 31 Gold Projects covering over 40 historic gold mines Country-wide Strategic Alliance with Barrick Gold Corp. covering 29 existing Gold Projects Significant Institutional & Industry Shareholders Management team with proven track record of identifying mineral deposits and advancing them to production TSXV: JG | OTCQB: JGLDF JAPAN GOLD CORP. 3#4Share Structure Japan Gold Shareholders Newmont Corporation Public Float 28% 10% Management 7% 55% Institutional Investors Shares Options Warrants Fully Diluted 224,890,479 15,390,000 45,650,058 285,930,537 TSXV: JG | OTCQB: JGLDF JAPAN GOLD CORP. 4#531 Exploration Projects 31 projects include areas with known gold occurrences and a history of mining, and are prospective for high-grade epithermal gold mineralization: Over 40 historic epithermal gold mines and workings The Barrick Alliance includes 29 projects Barrick provides management support via the Barrick Alliance Management Committee and technical support through the Barrick Alliance Technical Committee 2 projects are excluded from the Barrick Alliance Newmont Corporation has a joint venture right of first refusal Newmont provides technical support through a Japan Gold/Newmont technical committee JAPAN GOLD Hakuryu (4,901 ha) Japan Gold/Barrick Alliance Excluded From Alliance Sanru (41,394 ha) Aibetsu (7,035 ha) Hokkaido Kamitsue (4,069 ha) Tobaru-Fuke (10,935 ha) Tenryu (1,267 ha) Buho (1,324 ha) Isa (5,964 ha) Usa (1,838 ha) Gumyo (10,774 ha) Bajo (4,478 ha) Honshu Ohra-Takamine (3,705 ha) Kowa (389 ha) Kushikino-Iriki (11,163 ha) Kyushu Togi (3,990 ha) JAPAN GOLD CORP. Numanoue (1,296 ha) Ikutahara (20,513 ha) Kanehana (12,431 ha) Onne (2,998 ha) Fujimi (2,201 ha) Harutomi (1,672 ha) Minamikayabe (638 ha) Yaeyama (5,460 ha) OT-Yaeyama (6,503 ha) Mizobe (7,580 ha) Tobaru (1,347 ha) Ebino (15,741 ha) Kurino (933 ha) Onoyama (2,784 ha) Onoyama-Yamagano (12,049 ha) Mizobe-Onoyama 0 250 500 (5,126 ha) km N TSXV: JG | OTCQB: JGLDF 5#6Barrick Gold Corp. Strategic Alliance (commenced February 23, 2020) JAPAN GOLD CORP. Exclusive relationship for Japan: the Strategic Alliance covers the entire country and 29 out of 31 projects currently held by Japan Gold Excludes the Ikutahara Project in Hokkaido and the Ohra-Takamine Project in Kyushu Initial Evaluation Phase: Second Evaluation Phase: Identification of a Designated Project: Upon completion of a PFS: Completion of a BFS: 83% Complete Barrick is sole funding a 2-year Initial Evaluation Phase of each project. Japan Gold will initially act as Manager of each project, subject to Barrick's right at any time to become the Manager of a project Barrick will sole fund a 3-year Second Evaluation Phase on projects which meet Barrick criteria Barrick may identify a project as a Designated Project, at any time during the Initial Evaluation Phase or the Second Evaluation Phase, which Barrick may elect to sole fund to completion of a pre- feasibility study ("PFS") Barrick will earn a 51% interest and may elect to sole fund a Designated Project to a bankable feasibility study ("BFS") Where Barrick has elected to sole fund a Designated Project through to completion of a BFS, Japan Gold will be fully carried through completion of the BFS and retain a 25% interest in the Designated Project For more information please refer to the Company's February 24,2020 news release and the Company's filings on sedar.com TSXV: JG | OTCQB: JGLDF 6#7Kyushu: BLEG Geochemical Analysis Rock Chip Geophysics Gravity TSXV: JG | OTCQB: JGLDF Bajo Usa Hokkaido & Honshu: Barrick Alliance Initial Evaluation Phase Geochemical Analysis and Geophysical Surveys Data analysis completed from 17 projects has identified 29 anomalies of high interest Geochemical BLEG Analysis Rock Chip Geophysics Gravity Sanru Aibetsu Tenryu Numanoue Hakuryu Kanehana Onne 7 Fujimi Harutomi Buho Minamikayabe Togi Completed In progress JAPAN GOLD CORP.#8• Barrick Alliance 2021 Program BARRICK ALLIANCE INITIAL EVALUATION PHASE JAPAN GOLD 2021 Barrick Alliance budget USD$4 million, solely funded by Barrick (2020 budget USD$2 million) Complete geochemical sampling and geophysical surveys across 29 projects Complete target ranking and follow up of anomalies Complete analysis to allow Barrick to select projects for advancement Apply for drill permits CORP. 8 TSXV: JG | OTCQB: JGLDF#9Japan Gold Independent Projects (wholly owned) • Two projects are held outside of the Barrick Alliance: one in Hokkaido and one in Kyushu • • JAPAN The Ikutahara and Ohra-Takamine projects are the most advanced in the Japan Gold portfolio Newmont has provided significant technical support and has a joint venture right of first refusal TSXV: JG | OTCQB: JGLDF N GOLD JAPAN GOLD CORP. 9#10• • 2021 Work Programs Independent Projects - Drill focused IKUTAHARA PROJECT . Complete Ryuo prospect drill program (3,500m planned) - initial three holes completed (assays anticipated in 60 days) Finalize permitting for the East Kitano-o prospect and complete planned 2,500m drill program 2,000m additional drilling contingency 5 additional prospects to be advanced to drill targeting Finalize permitting of North Kitano-o Prospect and complete soil grid and new CSAMT geophysical surveying OHRA-TAKAMINE PROJECT • • Multiple drill pads and holes approved with drill permits Review and interpret 2020 scout drilling results to plan further drilling programs Preparation of drill targets may include infill CSAMT surveying and magnetic surveys Additional soil sampling and geophysics TSXV: JG | OTCQB: JGLDF JAPAN GOLD CORP. 10#11Experienced Leadership Team Board of Directors JAPAN GOLD CORP. John Proust C.Dir. Chairman & CEO Dr. Mike Andrews PhD, FAusIMM Director John Carlile BSc, MSc, FAusIMM Director Mitsuhiko Yamada BA (Int'l Economics) Director Robert Gallagher BApSc Director Paul Harbidge BSc, MSc Director Murray Flanigan CPA, CA, CFA Director Has successfully founded and managed a number of resource companies. Has served on the boards and held senior operating positions with numerous resource companies, and has directed and advised public and private companies since 1986. A geologist with over 40 years of experience in exploration. Instrumental in the discovery and development of a number of gold mines in Southeast Asia. Held executive exploration positions with a number of mineral exploration and mining companies. A geologist with over 35 years of experience with both major and junior resource companies, including as Exploration Manager, Asia, at BHP and Newcrest Mining as President of the Indonesian and Philippines subsidiaries of Newcrest Mining. A mining business professional with international experience. Held increasingly senior roles with Sumitomo Corporation, overseeing all aspects of mining projects from exploration through to production, and ultimately achieving the position of Executive Officer and General Manager of Mineral Resources before retiring in 2012. More than 40 years of mining industry experience, including President and CEO of New Gold Inc., an intermediate gold producer, and Vice President Operations of Newmont Asia Pacific, overseeing development of Newmont's Batu Hijau mine. A geologist with over 26 years of experience and a proven track record in the discovery of world class gold deposits. Paul was most recently the President & CEO of GT Gold until its acquisition by Newmont Corp. Previously he served as Senior Vice President of Exploration at Goldcorp from 2016 until its acquisition by Newmont Mining in April 2019, prior to that he successfully led the Exploration Team at Randgold Resources. A Chartered Accountant and a Chartered Financial Analyst with over 25 years of senior management and business development experience across multiple industries for both Canadian & US companies including CFO of Kepis & Pobe Financial Group Inc., Senior VP, Corporate Development & CFO of Qwest Investment Management, and VP of Corporate Development for Adelphia Communications. TSXV: JG | OTCQB: JGLDF 11#12Experienced Leadership Team Executive Team and Advisor John Proust, Chairman & CEO Mitsuhiko Yamada, Representing Director of Japan Gold KK (Japan Gold Corp. Operating Subsidiary in Japan) JAPAN GOLD CORP. P. Andrew Rowe, BSc, FAusIMM, FSEG Vice President Exploration, Japan Country Manager A geologist with 24 years of exploration and project management experience in Australia and the Asia- Pacific region with companies including Phelps Dodge and Ivanhoe Mines. Initiated the Japan Gold entry into Japan, and has been instrumental in building the Company and leading its exploration programs from the outset. Takashi Kuriyama, B.Eng. General Manager, Exploration A geologist with over 42 years of domestic and international exploration and mining business experience. Served in increasingly senior roles with Sumitomo Metal Mining Co., Ltd., from 1974 until his recent retirement as General Manager of the Global Exploration and Development Department. A Director of Teck Resources Ltd. from 2006- 2016 Dr. Kotaro Ohga, PhD Chief Engineer Holds a PhD in Mining Engineering with extensive permitting and drill program experience in Japan. Held the position of Associate Professor at Hokkaido University in the Graduate School of Engineering. Vince Boon, CPA, CA Chief Financial Officer, Corporate Secretary A Chartered Accountant with more than ten years of experience (both private and public companies) in the resource sector as both a Controller and CFO. Dr. Steve Garwin, BSc, MSc, PhD, FAusIMM, FAIG, FSEG Advisor Dr. Steve Garwin has over 29 years of experience as an exploration geologist and is one of the leading authorities on porphyry, epithermal and Carlin-style mineralization in the circum-Pacific region and applies methods of structural geology and geochemistry towards gold and base-metals exploration. He has previously worked with Newmont Mining for ten years, including two years as Chief Geologist in Nevada, USA. He has been involved with several exploration and mining projects including the Batu Hijau copper-gold porphyry deposit (where he completed his PhD). - Dr. Garwin has been instrumental in the discovery of the porphyry copper-gold systems at Alpala Cascabel, northwestern Ecuador and the implementation of state-of-the-art detailed mapping and logging strategies for SolGold Plc. These processes have led to accurate drill hole targeting and rapid progression to resource definition. TSXV: JG | OTCQB: JGLDF 12#13Advancing Gold Exploration in Japan STRENGTHS First mover advantage to secure the most prospective project areas 31 gold projects currently held throughout Japan Operating in a stable and corruption-free jurisdiction with an established regulatory framework Advancing projects in areas of underexplored terrain with known mineralization Strategic Alliance with Barrick Gold Corporation solely funding the evaluation of 29 projects Japan Gold independently advancing 2 projects with technical support from Newmont Corporation Well-funded with recent C$17 Million financing to complete its corporate objectives TEAM AND OPERATIONS Proven track record of identifying mineral deposits and advancing them to production Proven ability to finance, build and operate resources companies Geologists, management and advisors with experience working in Japan Established bases of operations on Hokkaido and Kyushu JAPAN GOLD CORP. • Acquired 4 compact diamond core drill rigs Obtained 22 work permits to bring expert expat drillers into Japan Flexible cost structure due to a mix of employees and consultants TSXV: JG | OTCQB: JGLDF 13#14Chairman & CEO, John Proust (left), and General Manager of Exploration, Takashi Kuriyama (right), tour historic mine sites in Japan with Professor Emeritus Izawa, Kyushu University (middle) Corporate Office Suite 650, 669 Howe St. Vancouver, BC Canada V6C 0B4 Phone: +1 (778) 725-1491 Attention: John Proust Chairman & CEO [email protected] JAPAN GOLD CORP. Tokyo Office Suite 401, ARK Hills Executive Tower Akasaka 1-14-5, Minato-ku Tokyo, Japan Phone: +81 (0)3-6550-8735 Attention: Andrew Rowe Vice President Exploration Japan Country Manager www.japangold.com#15Appendix 1 Barrick Alliance JAPAN GOLD CORP.#1631 Exploration Projects 31 projects include areas with known gold occurrences and a history of mining, and are prospective for high-grade epithermal gold mineralization: Over 40 historic epithermal gold mines and workings The Barrick Alliance includes 29 projects Barrick provides management support via the Barrick Alliance Management Committee and technical support through the Barrick Alliance Technical Committee 2 projects are excluded from the Barrick Alliance Newmont Corporation has a joint venture right of first refusal Newmont provides technical support through a Japan Gold/Newmont technical committee JAPAN GOLD Excluded From Alliance Hakuryu (4,901 ha) Japan Gold/Barrick Alliance Sanru (41,394 ha) Aibetsu (7,035 ha) Hokkaido Kamitsue (4,069 ha) Tobaru-Fuke (10,935 ha) Tenryu (1,267 ha) Buho (1,324 ha) Isa (5,964 ha) Usa (1,838 ha) Gumyo (10,774 ha) Bajo (4,478 ha) Honshu Ohra-Takamine (3,705 ha) Kowa (389 ha) Kushikino-Iriki (11,163 ha) Yaeyama (5,460 ha) OT-Yaeyama (6,503 ha) Kyushu Mizobe (7,580 ha) Tobaru (1,347 ha) Ebino (15,741 ha) Kurino (933 ha) Togi (3,990 ha) Onoyama (2,784 ha) Onoyama-Yamagano (12,049 ha) TSXV: JG | OTCQB: JGLDF JAPAN GOLD CORP. Numanoue (1,296 ha) Ikutahara (20,513 ha) Kanehana (12,431 ha) Onne (2,998 ha) Fujimi (2,201 ha) Harutomi (1,672 ha) Minamikayabe (638 ha) N Mizobe-Onoyama 0 250 500 km (5,126 ha) 16#17Hokkaido Kyushu 4,800,000 mN TSXV: JG | OTCQB: JGLDF 400,000 ME Map Location Hokkaido JAPAN GOLD 600,000 mE Sanru Project (41,394 ha) Honshu Aibetsu Project (7,035 ha) Tenryu Project (1,267 ha) Buho Project (1,324 ha) Sapporo Minamikayabe Project (628 ha) New Chitose 600,000 mE Omu-Kamikawa Zone Monbetsu-Rubeshibe Zone JAPAN GOLD CORP. Japan Gold/Barrick Alliance Epithermal Gold Projects Numanoue Project (1,296 ha) Hakuryu Project (4,901 ha) Ikutahara Project (20,513 ha) Memanbetsu Asahikawa Kanehana Project (12,431 ha) Onne Project (2,998 ha) Fujimi Project (2,201 ha) Harutomi Project (1,672 ha) Hokkaido 4.800.000 mN 100 kilometers LEGEND Japan Gold/Barrick Alliance Japan Gold, Excluded from Alliance Alliance Geochemical Sampling Completed National Park Approximate Graben Boundary Kitami Metallogenic Province 17#18Hokkaido Kitami Metallogenic Province TSXV: JG | OTCQB: JGLDF JAPAN GOLD Hokuryu Mine 64 koz Au @8.2 g/t 1928-43 Sanru Mine Irving Resources Omu Project Omui Mine 父 Kitami Metallogenic Province Japan Gold / Barrick Alliance Epithermal Gold Projects Sanru Project (41,394 ha) Omu-Kamikawa Zone 225 koz Au @7.4 g/t 1925-74 + + Hokkaido Aibetsu Project (7,035 ha) Hokkaido Honshu Monbetsu-Rubeshibe Zone Kōnomai Mine 2.35 Moz Au @ 6.4 g/t 1917-74 Numanoue Mine 35 koz Au @ 8 g/t 1923-59 Numanoue Project (1,296 ha) Tokusei Mine 38 koz Au 1930-42 Hakuryu Project (4,901 ha) Legend Japan Gold/Barrick Alliance Japan Gold, Excluded From Alliance Alliance Geochemical Sampling Completed Third Party Projects Sanru Mine Rights Mine Location Tenryu Project (1,267 ha) Approximate Graben Boundary Kitami Metallogenic Province Data sourced from: Watanabe, 1996. Genesis of Vein-Hosting Fractures in the Kitami Region, Hokkaido, Japan. Resource Geology, v46(3), pp 151-166. Garwin, S., et al. 2005. Tectonic Setting, Geology, and Gold and Copper Mineralisation in the Cenozoic Magmatic Arcs of Southeast Asia and the West Pacific. Appendix 1. Economic Geology 100th Anniversary Volume, p. 891-930. Shikazono, N., 2003, Geochemical and Tectonic Evolution of Arc-Backarc Hydrothermal Systems, Volume 8, Chapter 1. Ikutahara Project (20,513 ha) Kanehana Project (12,431 ha) Ryūo Mine 5,333 oz Au 8.9 g/t 1938-53 Kitano-ō Mine 96 koz Au @5.9 g/t 1924-43 Fujimi Project (2,201 ha) Onne Project (2,998 ha) 0 Harutomi Project (1,672 ha) 25 50 Km JAPAN GOLD CORP. 18#19Sanru Project Hokkaido - NW Kitami Metallogenic Province TSXV: JG | OTCQB: JGLDF 0 10 kilometers 4,940.000 mN 4,920,000 mN Hokuryu Mine 64 koz Au @ 8.2 g/t | 1928-43 Sanru Mine Jugosen-Zawa Workings Omiya-Zawa Workings *** Mosanru Workings Hokuryu Mine Omui Mine JAPAN GOLD 4,940,000 mN 4,920,000 mN Sanru Mine 225 koz Au @ 7.4 g/t 1925-74 Japan Gold/Barrick Alliance SANRU PROJECT LEGEND Japan Gold/Barrick Alliance Sanru Project Applications Japan Gold/Barrick Alliance New Sanru Applications Irving Resources Inc. Sanru Mine Rights Mines/Workings JAPAN GOLD CORP. 19#20Honshu: Togi Project 700,000 mE 800,000 mE Pliocene Holocene volcanic rock Miocene sedimentary rock Miocene volcanic rock Pre Miocene basement rock Major Au- Ag Mine Graben Caldera structure Regional structures Project boundary Alliance Geochemical Sampling Completed Alliance Gravity Survey Completed Sado Island SADO MINE SADO STRUCTURAL TREND . Located on the northern flank of a regional graben, hosted in early Miocene andesite volcanics and under- lain by a northeast trending gravity anomaly A similarly oriented graben-gravity feature and Miocene host rocks are noted 160 kilometres along strike to the northeast on Sado Island, which hosted Japan's second largest gold mine, the Sado Mine which produced 2.5 million ounces of gold and 74 million ounces of silver2 until its closure in 1974 4,100,000 mN Legend × Noto Peninsula TOGI PROJECT Sea of Japan Kanazawa TSXV: JG | OTCQB: JGLDF Hokkaido Honshu Map Location Shikoku Kyushu Jz Niigata 0 25 50 kilometers Mt. Fuji JAPAN GOLD CORP. 900.000 mE JAPAN GOLD TOKYO 20#21Honshu: Togi Project BLEG and Rock Sample Results 4,110,000 mN TSXV: JG | OTCQB: JGLDF Map Location D Sea of Japan kilometers HONSHU Tokyo Urugami Prospect 655,000 mE Hirochi Prospect 660,000 mE JAPAN GOLD 4,115,000 mN LEGEND • Project boundary BLEG sample points (88) Quartz vein trend - Fault/lineament interp Au (ppm) in Rock Outcrop > 20 (6) 5 to 20 (9) (5) 2 to 5 0.5 to 2 (9) 0.1 to 0.5 (10) <0.1 (16) Au (ppm) in Rock Float > 20 (21) ▼ 5 to 20 (55) V 2 to 5 (53) 0.5 to 2 (77) ▼ 0.1 to 0.5 (73) 4 <0.1 (78) Au (ppb) in BLEG >30 (12) 15 to 30 (12) 10 to 15 (3) 5 to 10 (8) 3 to 5 (6) 1.5 to 3 (12) <1.5 (35) JAPAN GOLD CORP. 21#22Kyushu Hokusatsu Region . . . Kyushu hosts 2 Gold Provinces: Middle Kyushu Epithermal Gold Province and Southern Kyushu Epithermal Gold Province The Hokusatsu Region is Japans' largest gold producer with low-sulphidation epithermal deposits recording a combined production of over 11 million ounces of gold The region lies within the northern half of the Southern Kyushu Epithermal Gold Province and covers an area of approximately 120,000 hectares Japan Gold's projects cover over 84% of the prospective and explorable ground in the region Middle Kyushu Epithermal Gold Province Map Location TSXV: JG | OTCQB: JGLDF Kyushu JAPAN GOLD CORP. Southern Kyushu Epithermal Gold Province Hokusatsu Region 22 22#233,650,000 mN TSXV: JG | OTCQB: JGLDF Middle Kyushu Middle Kyushu Map Location Kyushu Kokuro-Tagawa Fault Hokusatsu Middle Kyushu Epithermal Gold Province Hoshino Mine 130 koz Au X 650,000 m Taio Mine 1.2 Moz Au @ 6.3 g/t X 700,000 mE Usa Project (1,838 ha) Bajo Project (4,478 ha) Kamitsue Project (4,069 ha) 700,000 mE 444 Bajo Mine 400 koz Au 750,00 Oita 3,700,000 mN Hohi Graben 0 25 kilometers LEGEND Japan Gold/Barrick Alliance Alliance Geochemical Sampling Completed Alliance Gravity Survey Completed Mine Location Approximate Graben Boundary 23 JAPAN GOLD CORP.#24. Southern Kyushu - Hokusatsu Region Japan Gold Projects cover over 84% of the prospective ground Gold mineralization in the Hokusatsu Region is localised along an 80-kilometer long, arcuate, northeast to northerly trending volcanic front west of the Kagoshima graben, and bound by the Kushikino Mine in the southwest and the Fuke Mine in the north Notable gold producers within the Region include: Hishikari Mine with 7.9 million ounces produced to date at average grades of 30-40 g/t Kushikino Mine, 1.8 million ounces at 6.7 g/t Yamagano Mine, 910,000 ounces at 17.4 g/t. Okuchi Mine, 714,000 ounces at 13.6 g/t Fuke Mine, 106,000 ounces from 1896 to 1976 (74,000 ounces at 8.61 g/t Au between 1937-76) Middle Kyushu Epithermal Gold Province Kyushu Map Location Southern Kyushu Epithermal Gold Province Kagoshima Graben Japan Gold Epithermal Projects Southern Kyushu Epithermal Gold Province Hokusatsu Region Bouguer Gravity Contour H Hokusatsu Region 8 Isa Project (5,964 ha) Gumyo Project (10,759 ha) Yamagano Mine 910,000 oz @ 17.4 g/t Gold Kushikino-Iriki Project (11,163 ha) Ohra-Takamine Project (3,705 ha) Yaeyama Project (5,460 ha) 1. H H 3 Tobaru-Fuke Project (10,935 Ha) Tobaru Project (1,347 ha) JAPAN GOLD Ebino Project (15,741 ho) CORP. JAPAN GOLD H Hishikari Mine* 7.9 Moz @30-40 g/t Gold Kurino Project (933 ha) 3.540.000 м Onoyama Project (2,784 ha) Onoyama-Yamagano Project (12,049ha) Kowa Project (389 ha) Mizobe-Onoyama Project (5,126 ha) Mizobe Project (7,580 ha) TSXV: JG | OTCQB: JGLDF 3.000.000 N Sea of Japan OT-Yaeyama Project 500.000 (6,503 ha) 20 kilometers Data sourced from Gravity data sourced from Hayashi & Taguchi, 2001, Epithermal Gold Exploration in the triki District, Kagoshima, Japan. SEG Guidbook series, Vol. 34, 2001, pp. 61-85 "Sumitomo Metal Mining Co. Ltd. website, production as of end of March 2020 Watanabe, Y 2005, Late Cenozoic Evolution of Epithermal Gold Metallogenic Provinces in Kyushu, Japan, Mineralium Deposits (2005) 40, p 307-323. Japan Gold/Barrick Alliance Japan Gold, excluded from Alliance Irving/Newmont Projects Sumitomo Metal Mining Hishikari Other Group Projects 父 Historic Mine River Bouguer Gravity High Anomaly Kagoshima Graben Southern Kyushu Epithermal Gold Province 24#25Southern Kyushu Projects TSXV: JG | OTCQB: JGLDF Japan Gold Epithermal Projects Southern Kyushu Epithermal Gold Province Hokusatsu Region Barrick Alliance Exploration Progress Fuke Mine 106,000 oz Gold Tobaru-Fuke Project (10,935 Ha) Tobaru Project (1,347 Ha) 600.000 Ebino Project (15,741 Ha) JAPAN GOLD 3580000N Okuchi Mine 714,000 oz @ 13.6 g/t Gold Isa Project (5,964 Ha) Gumyo Project (10,759 Ha) Yamagano Mine 910,000 oz @ 17.4 g/t Gold Onoyama-Yamagano Project (12,049 Ha) OT-Yaeyama Project (6,503 Ha) Hishikari Mine* 7.9 Moz @30-40 g/t Gold Kurino Project (933 Ha) Onoyama Project (2,784 Ha) 3,540 N Kushikino Mine 1.8 Moz Au @ 6.7 g/t Kushikino-Iriki Project (11,163 Ha) 3.500.000 mN Sea of Japan Yaeyama Project (5,460 Ha) LEGEND 父 Historic Mine River _ Kagoshima Graben Japan Gold/Barrick Alliance. Japan Gold, Excluded from Alliance Alliance Geochemical Sampling Completed Alliance Gravity Survey Completed Mizobe-Onoyama Project (5,126 Ha) Mizobe Project (7,580 Ha) Kowa Project (389 Ha) 3.500.000 MN 20 kilometers Irving/Newmont Projects Sumitomo Metal Mining Hishikari Other Group Projects JAPAN GOLD CORP. 25 25#26Southeast Hokusatsu Region Geophysical gravity survey results JAPAN GOLD Onoyama- Yamagano West Extension 650,000 mE Alliance Project Southeast Hokusatsu Region Bouguer Gravity Anomaly Map (Rock Density = 2.3 g/cm³) 655,000 mE Onoyama-Yamagano Project 3,525,000 mN Ohra-Takamine Project Ohra mine Aira Yamada mine Matsuno mine 3,520,000 mN Takamine mine OT-Yaeyama Project 3,515.000 mN TSXV: JG | OTCQB: JGLDF Kowa Project Urushi mine kilometers Mizobe-Onoyama Project Semari mine Mizobe Project Mizobe West 2nd Extension (Now included into the Mizobe Project) Anomalous northwest trending gravity ridge 660,000 mE Kyushu Map Location JAPAN GOLD CORP. LEGEND Japan Gold/Barrick Alliance Japan Gold, excluded from Alliance Other group project X Historic Mine Hokusatsu Merge TC Boug SphCap 2 3 CS500_GRES20000 Miligals Linear Colour Stretch 85 -71 5.6 42 28 14 01 15 29 44 58 72 86 26#27Central Hokusatsu Region Geophysical gravity survey results Kyushu 650,000.mE Onoyama-Yamagano Project Bouguer Gravity Anomaly Map (Rock Density = 2.3 g/cm³) Map Location 3,530,000 mN -11 -13 -15 mGal TSXV: JG | OTCQB: JGLDF Onoyama-Yamagano West Extension (Now included into the Onoyama-Yamagano Project) 5 ㄨ Yamagano mine Anomalous gravity feature Onoyama-Yamagano Project 20 650,000 mE. 20 20 660.000.mE Onoyama Project Onoyama mine JAPAN GOLD CORP. JAPAN GOLD 3,530,000 mN LEGEND Japan Gold/Barrick Alliance Irving/Newmont projects Other group projects Vein deposits Historic Mine 0 5 父 kilometers 27#28Appendix 2 Independent Projects JAPAN GOLD CORP.#29. 31 Exploration Projects 31 projects include areas with known gold occurrences and a history of mining, and are prospective for high-grade epithermal gold mineralization: Over 40 historic epithermal gold mines and workings The Barrick Alliance includes 29 projects: Barrick provides management support via the Barrick Alliance Management Committee and technical support through the Barrick Alliance Technical Committee 2 projects are excluded from the Barrick Alliance Newmont Corporation has a joint venture right of first refusal Newmont provides technical support through a Japan Gold/Newmont technical committee JAPAN GOLD Hakuryu (4,901 ha) Japan Gold/Barrick Alliance Excluded From Alliance Sanru (41,394 ha) Aibetsu (7,035 ha) Hokkaido Kamitsue (4,069 ha) Tobaru-Fuke (10,935 ha) Tenryu (1,267 ha) Buho (1,324 ha) Isa (5,964 ha) Usa (1,838 ha) Gumyo Bajo (10,774 ha) (4,478 ha) Honshu Ohra-Takamine (3,705 ha) Kowa (389 ha) Kushikino-Iriki (11,163 ha) Togi (3,990 ha) Yaeyama (5,460 ha) OT-Yaeyama (6,503 ha) Mizobe (7,580 ha) Tobaru (1,347 ha) Ebino (15,741 ha) Kurino (933 ha) Onoyama (2,784 ha) Onoyama-Yamagano (12,049 ha) Kyushu TSXV: JG | OTCQB: JGLDF JAPAN GOLD CORP. Numanoue (1,296 ha) Ikutahara (20,513 ha) Kanehana (12,431 ha) Onne (2,998 ha) Fujimi (2,201 ha) Harutomi (1,672 ha) Minamikayabe (638 ha) N Mizobe-Onoyama 0 250 (5,126 ha) 500 km 29 29#30• • • • • • • . Hokkaido: Ikutahara Project Ikutahara Project: 205.13 sq. km covering 20 historic mines and workings Regional exploration completed over the majority of the project, including detailed stream geochemical sampling and geological mapping Ground magnetics completed over key areas CSAMT and gravity geophysics completed in selected areas Ryuo Prospect: Developed prior to 1943 on 5 vein zones Workings developed on up to six levels to a depth of 75m below surface Historic channel samples composited along strike show significant high-grade shoot development, including 72 m with average grades 40.8 g/t Au and 168 g/t Ag (Average vein width = 0.45 m) CSAMT and gravity geophysics completed in selected areas Drill program underway Kitano-o Gold District: 7km by 5km gold district Large epithermal system • • 8 historic mines and workings JAPAN GOLD Ryuo Prospect 父 West Kitano-o North Kitano-o Prospects Kitano-o Gold Prospect IKUTAHARA PROJECT SIMPLIFIED GEOLOGY AND PROSPECTING APPLICATION STATUS ㄨˋ Ikutahara Prospecting Rights Ikutahara Prospecting Rights Applications Kitano-o Gold District Quaternary Sediment Volcaniclastics Rhyolite Basement Complex Mine/Working Fault N 父 ㄍㄨˋ " ㄉㄨˋ ㄉㄨˋ 父 x • • Includes the Kitano-o Gold Prospect and the North Kitano-o Prospects East Kitano drill permitting being finalized, drill program to follow TSXV: JG | OTCQB: JGLDF River JAPAN GOLD CORP. Hokkaido East Kitano-o " 0 5 10 Km 30#31Ikutahara Project Ryuo Prospect SW (A) Surface profile 19.5 m Av Grade 10.1 g/t Au & 55 g/t Ag (0.3 m) Incl. channel sample 0.3 m @ 37.8 g/t Au & 120 g/t Ag Level 1 Level 2 72.0 m Av Grade 40.8 g/t Au & 193 g/t Ag (0.5 m) Incl. channel samples 0.4 m @474.0 g/t Au & 1607 g/t Ag 0.4 [email protected] g/t Au & 1260 g/t Ag 250m 9.0 m Av Grade 31.3 g/t Au & 268 g/t Ag (1.5 m) Incl. channel samples 0.4 m @ 100.0 g/t Au & 224 g/t Ag 2.0 [email protected] g/t Au & 455 g/t Ag 2.0 m @ 29.2 g/t Au & 667 g/t Ag Level 3 Level 4 200m NE Level 5 (B) Sub-level 5a 22.5 m Av Grade 9.3 g/t Au & 98 g/t Ag (0.3 m) Sub-level 56 Incl. channel samples 0.4 m @ 22.8 g/t Au & 291 g/t Ag 7.8 m Av Grade 8.3 g/t Au & 51 g/t Ag (0.1 m) Level 6 11.7 m Av Grade 5.2 g/t Au & 24 g/t Ag (0.8 m) Incl. channel sample 1.6 m @ 22.8 g/t Au & 59 g/t Ag NOTES: 1) The distribution of historic face samples along the exploration drives and the locations of high grade gold & silver channel samples 2) Data compiled from: Metal Mining Agency of Japan, March 1990, Geological Survey Report for Fiscal Year 1989, Northern Hokkaido Area B- Metalliferous Deposits Overview, 3) Average gold silver grades calculate from width weighted-average of across vein channel samples within interval. Average vein width in brackets. 50m Gold Grade Ranges 150m No reported assays <1.0 gt Au 1.0-4.0 gt Au 4.0-10.0 git Au >10.0 gt Au JAPAN GOLD CORP. Ryuo Mine, Jinja vein workings. Long section of underground development showing highlights of historic channel sampling. 31 TSXV: JG | OTCQB: JGLDF#32Ikutahara Project Ryuo Prospect: drilling in progress 699,800 m NOTE 700.000-E Ryuo Mine Prospect Alteration Map 0 meters 200 N 4.873.200 4873.000 300 0.54 BURYU +0.88 609.800 m 0.83 RYUEI 700,000-E 250 700 200 mE 0.71 200 JINJA 3.39 700,400 E 700500 m 2.87 7250 IKDD21-003 5.91 3.47 3.41 7.12 3.64 2.22 1.44 IKDD21-001 0.62 0.52 0.62 2.7 0.68 0.71 700 200 m 0.88 TAISEI 0.75 JAPAN GOLD 4873,600 mN 4873.400 m SHOUEI IKDD21-002 Rock-Chip Au (git) FT OC <- ≥5 <>2 to 5 4.873.200 mN 4.873.000 m 4872 800 mN 0.5 to 2 0.1 to 0.5 LEGEND Quartz vein outcrop Silicified hydrothermal breccia outcrop/float Silicified rhyolitic volcaniclastic rocks Argillised rhyolitic volcaniclastic rocks Rhyolite and sandstone (weakly altered) Mine dumps Unpaved logging road Gravel paved road River Underground workings Initial drill holes Permitted drill pads 700 400 mE 700 600 m 4.872.600 mN JAPAN GOLD CORP. TSXV: JG | OTCQB: JGLDF Historic Ryuo Mine, alteration map with historic workings, planned drill holes, permitted drill pads and gold in rock chip values 32#33• . • . • • JAPAN GOLD Ikutahara Project: Kitano-o Gold District Kitano-o Gold Prospect: 3 km wide Includes historic Kitano Mine CSAMT and gravity geophysics completed Soil sampling underway at east Kitano-o Phase 1 scout drilling complete Phase 2 scout drilling being permitted • North Kitano-o Gold Prospects: Broadly spaced ridge and spur soil sampling completed Infill soil sampling and CSAMT geophysical survey planned JAPAN GOLD CORP. Rock Sample Results Summary: Showa Mine: mine dump samples range up to 93.3 g/t Au Kitano-o Mine: mine dump samples range up to 54.4 g/t Au Ikutahara Mine: mine dump samples range up to 37.3 g/t Au Sakinzawa Workings: samples of quartz stockworked rhyolite in the Sakinzawa creek returned gold results ranging up to 43.8 g/t Au 93.3 g/t Au Showa Mine sample: visible gold in quartz stockworks cutting silicified laminated mudstone, field of view is approximately 1 cm; SAM01867: 93.3 g/t Au, 17 g/t Ag TSXV: JG | OTCQB: JGLDF JAPAN GOLD 54.4 g/t Au Kitano-o Mine sample: Banded quartz vein collected from dump material of underground working in central Kitano-o; JG0069: 54.4 g/t Au, 7 g/t Ag JAPAN GOLD 17.2 g/t Au Sakinzawa Workings sample: gold-bearing quartz stockwork in rhyolitic breccia outcrop; SAM02069: 17.2 g/t Au, 16 g/t Ag 33#34Kitano-o Gold Prospect: Long Section & Drilling Program KITANO-O GOLD PROSPECT Geological Interpretation, Gold and Antimony (ppm) in Rock-Chip, and Historic Workings 0 125 250 500 meters 4867000mN 300m 330 403.2m JAPAN GOLD CORA #50m Phase 1 Drilling West Kitano-o KID005 536.4m KTD004 2MAHB 5 KTDODT 7000m 8.6 KTD003 54. KTD002 4866000mN 0 0.5 Legend: 12.5 Gold (g/t) result Quartz vein interpretation Mapped veins (1956) Secondary access road Main access road Drainage / creek TSXV: JG | OTCQB: JGLDF KTD006 1.5 400m Contour 10m Drill hole 350m Shallow open pit outline Mine infrastructure Underground adit (from MMAJ map) Au (ppm) ≥10 5 to 10 2 to 5 Sb (ppm) ≥250 100 to 250 Tenement outline 0.5 to 2 <0.5 50 to 100 25 to 50 ▼ < 25 707000mB JAPAN GOLD CORP. Proposed area for Phase 2 Drilling East Kitano-o 4867000mN น 20.0 8.1 5.7 60.8 450m 530m 23.2 21.9 9.9 4866000mN 3 km 8. 2.5 " Lithology Sinter boulder fields Sinter outcrop Biotite rhyolite dome Obsidian Rhyolite dome Miocene volcaniclastics and volcanics Cretaceous-Jurassic basement sediments 34#35Kitano-o Gold Prospect: Geological Model JAPAN GOLD CORK KITANO-O EPITHERMAL GOLD PROSPECT CONCEPTUAL LONG SECTION The >96,000 oz gold mined at surface was deposited by lateral outflow during deposition of the sinter apron and interpreted to be from a boiling zone in the eastern part of the prospect. West Kitano-o Epithermal Au-Ag-Hg stockwork Hydrothermal eruption breccia East Kitano-o DV 350.0m 403.2m 200T Lateral outflow (sinter+gold deposition) AD o450.0m 536.4m + 555.1m + unconformity Basement + 700.0m 44 4 4 44 Pal + + mixed layer clay + Upflow Graben margin fault JAPAN GOLD CORP. m (approx.) LITHOLOGY 200 Silica sinter apron Water-table controlled silicification Rhyolitic subvolcanic intrusion Rhyolite flow dome & associated volcanic (talus) breccia Rhyolite volcaniclastics & volcanic breccia Volcaniclastic marker horizon Lower volcanic breccia (fragmental) Basement rock (Cretaceous) Bonanza zone Epithermal boiling zone Epithermal vein Historic shallow open pit workings 父 Fault Drill hole Figure modified from Sillitoe, 1992. Appraisal of Epithermal Gold Prospects and Exploration Approach in the Northern Hokkaido Area, Japan This model is largely based on Dr Sillitoe's observations at the Kitano-o Mine area on Japan Gold's Ikutahara Project TSXV: JG | OTCQB: JGLDF 35#36Kyushu: Ohra-Takamine Project • 7.5 kilometres to the JAPAN GOLD CORP. 645.000 m 647.500 mE 650.000 m 652.500 E Gravity Survey Coverage CSAMT Survey Coverage Kyushu Island • • • • • southwest of the historic Yamagano Mine which produced 910,000 ounces of gold at a grade of 17.4 g/t Mapping has confirmed a 5.5 km long contiguous alteration corridor along which are hosted the historic mine workings of Urushi, Takamine and Ohra Detailed geophysics (gravity and CSAMT) completed in February 2020 Soil sampling program completed in March 2020 Scout drilling completed in December 2020 Multiple drill pads and holes approved with drill permits Preparation of drill targets may include infill CSAMT surveying and magnetic surveys Ohra Takamine Project on Geology Geophysical Grids Index Map Map Location ㄨ Matsuno Mine TSXV: JG | OTCQB: JGLDF Urushi Mine * Takamine Mine * Ohra Mine 5 km 645 000 m 647.500 E 650.000 m 父 Aira Yamada Mine JAPAN GOLD 3,527,500 Legend: Historic mine workings Tenement outline Completed drill hole Road River Contour CSAMT grid Gravity survey area Geology leistocene Quaternary 3.525.000 mN 3.522.500 m Alluvium Pumice flows Andesitic pyroclastics Andesitic lava Dacitic lava Pliocene Miocene Andesitic lava and pyroclastics Silica sinter 652.500 E 3.520.000 mN 36#37Ohra-Takamine: Central mine corridor long-section with historic workings and drill holes JAPAN GOLD CORP. Ohra-Takamine Central Mine Corridor Long Section (Looking NW) 500m Om Urushi Mine: 3,000 ounces of gold produced at an average grade of 9.1 g/t Au and 18.6 g/t Ag OTDD20-001 -500m JAPAN GOLD Takamine Mine: 1,600 ounces of gold produced at an average grade of 5.1 g/t Au, 28.3 g/t Ag 59MAHT-2 OTDD20-002 OTDD19-001 500m 61MAHT-4 60MAHT-2 63MAHT-5 61MAHT-3 61MAHT-5 61MAHT-2 615.5m 620.0m 651.5m 660.0m 650.0m 602.0m Production data referenced from: 620.0m 600.4m 59MAHT-3 1455.0m 584.0m 679.6m Om Ohra Mine: >28,000 ounces of gold produced, including 21,000 ounces mined at grades >20 g/t Au 1) Michitoshi, Miyahisa, 1967: Report of gold deposits survey in Takamine/Ohra district, Kagoshima prefecture, Association of Kagoshima Prefecture mineral resources development promotion. 2) Gold Mines of Japan, 1989. The Mining & Materials Processing Institute of Japan. 0 500 1000 meters TSXV: JG | OTCQB: JGLDF LEGEND Japan Gold drill hole MMAJ drill hole Sinter outcrop Historic production 37#38Ohra-Takamine: Drill intersections with significant mineralized intervals The discovery of new vein zones with limited or weak surface outcrop in the vicinity of the Urushi Mine as well as between the Ohra and Takamine Mines, gives encouragement for the exploration potential both along the trend and below cover further along strike to the southwest, where coincident soil and CSAMT anomalies are partly concealed by younger post- mineral geology 11 additional drill pad locations are permitted for drilling along the central mine JAPAN GOLD CORP. Hole ID Azimuth (degrees) Inclination (degrees) Total Depth Interval From (m) To (m) Au (ppm) Ag (ppm) (m) OTDD19-001 195 45 455.00 231.15 231.50 0.35 1.7 5.0 OTDD20-001 335 50 602.00 114.40 115.60 1.20 1.5 31.0 Incl. 115.20 115.60 0.40 3.2 84.0 166.95 167.20 0.25 1.1 1.8 222.60 226.75 4.15 1.6 2.4 225.70 226.25 0.55 3.5 4.5 226.00 226.25 0.25 6.5 7.6 233.95 234.30 0.35 21.7 13.3 326.90 327.70 0.80 1.3 3.0 329.10 329.35 0.25 1.5 4.0 383.50 383.90 0.40 2.9 4.0 OTDD20-002 330 40 584.00 No significant result Incl. Incl. corridor. With the definition of these new target zones, further drill pads will be permitted to properly test and advance the Ohra-Takamine Project TSXV: JG | OTCQB: JGLDF 38#39Ohra-Takamine: Ohra Mine cross-section with Japan Gold and MMAJ drilling* 500m B 1524400mN 0.35m @ 1.7 g/t Au & 5 g/t Ag from 231.15m Vein 1 outctop (3m wide) 400m 300m New drill target zone 200m 100m 584.0m Ohra Mine 649000mB 3524200mN Vein 2 outcrop (4.6m wide) Vein 3 outcrop (2.3m wide) OTDD19-001 550 400 100 150 200 250 450 455.0m -150 649000mE OTDD20-002 50 50 100 59MAHT-2 3524000mN JAPAN GOLD CORP. B' 500m 400m 300m LEGEND Elevated gold > 0.1 g/t Japan Gold drill hole MMAJ drill hole Ohra mine workings Quartz vein / vein zone Sheeted/stockwork vein zone Alteration Kaolinite-smectite Smectite Illite-smectite Fault/fault breccia zone Andesite dyke Andesite volcanics *Within the mine alteration corridor, 8 drill holes were completed as part of government funded geological survey work by the Metal Mining Agency of Japan (MMAJ) during the 1980's. TSXV: JG | OTCQB: JGLDF 0 50 100 150 meters 39#40Ohra-Takamine: Urushi Mine cross-section with Japan Gold and MMAJ drill intersections** JAPAN GOLD CORP. Om -100m 100m 200m 300m A 646200mE 3523400mN Mine Workings 61MAHT-4 150 1.40m @ 5.8 g/t Au & 5.7 g/t Ag from 381.2m 0.10m @ 13.3 g/t Au & 25 g/t Ag from 492.1m, 0.10m @ 12.3 g/t Au & 25 g/t Ag from 494.2m LEGEND Japan Gold drill hole MMAJ drill hole Urushi mine workings Alteration NH4-mica dominant illite-smectite alteration Illite-smectite 200 60MAHT-2 250 Fault/fault breccia zone New drill target zone 600 602.0m Quartz vein / vein zone Andesite volcanics Volcaniclastic sediment 0 50 100 150 meters & tuff 000 500 550 3523200mN 350 1550 450 400 615.5m 400 Urushi Mine 3523000mN 600 620.0m 646400mE 3523000mN 646400mE New drill target zone OTDD20-001 100 3522800mN 1.2m @ 1.5 g/t Au & 31 g/t Ag from 114.4m incl. 0.4m @ 3.2 g/t Au & 84 g/t Ag from 115.2m 100m 0.25m @ 1.1 g/t Au & 1.8 g/t Ag from 166.95m 4.15m @ 1.6 g/t Au & 2.4 g/t Ag from 222.6m incl. 0.55m @ 3.5 g/t Au & 4.5 g/t Ag from 225.7m incl. 0.25m @ 6.5 g/t Au & 7.5 g/t Ag from 226.0m 0.35m @ 21.7 g/t Au & 13 g/t Ag from 233.95m 0.8m @ 1.3 g/t Au & 3 g/t Ag from 326.9m -100m 0.25m @ 1.5 g/t Au & 4 g/t Ag from 329.1m 0.4m @ 2.9 g/t Au & 4 g/t Ag from 383.5m -200m -300m MMAJ data sourced from: Hole 60MAHT-2 were reported in a MMAJ 1985 report Holes 61MAHT-2 were reported in a MMAJ 1986 report *Within the mine alteration corridor, 8 drill holes were completed as part of government funded geological survey work by the Metal Mining Agency of Japan (MMAJ) during the 1980's. TSXV: JG | OTCQB: JGLDF 200m 300m 40#41Ohra-Takamine: Terrain corrected Bouguer gravity FOTR image 3.527,500 m 3.522.500 mN 3,525,000 m Ohra Takamine Project Bouger Gravity First Order Trend Removed Histogram Equalized Image 3,520,000 mN TSXV: JG | OTCQB: JGLDF 300m 300m 父 Matsuno Mine 300m 645,000 mE 400m 500m 300m 300m 647,500 ME 500m Urushi Mine Takamine Mine Ohra Mine 650,000 mE 5 km 200m 645,000 mE 647,500 mE 650,000 mE 400m 652.500 mE JAPAN GOLD CORP. JAPAN GOLD CORR Aira Yamada Mine Index Map Kyushu Island Map Location 3,527,500 mN Legend: ㄨ Historic mine workings Tenement outline Completed drill hole 652.500 mE Road River Contour 3,525,000 mN 3.522,500 mN 3.520,000 mN 41#42Ohra-Takamine: Processed gravity with edge detection for structure definition and gold/ antimony soil anomalies 3.525.000 mN 3.522.500 mN Index Map 645,000 m Kyushu Island Map Location Urushi Mine 647,500 ME Ohra-Takamine Project Bouguer Anomaly Gravity Processed Fathom Edge Detection 1vd SD 6.25 with Gold and Antimony in Soil Anomaly C Anomaly B 650,000 mE Anomaly A Ohra Mine 652.500 mE JAPAN GOLD CORP. JAPAN GOLD COMP Aira Yamada. Mine 0.100 0.080 0.060 0.040 0.020 0.000 3,525,000 mN 3.522.500 mN Anomaly D 645,000 mE Takamine Mine 0 647,500 mE Anomaly E Kilometers 650,000 mE Soil Au (ppb) ≥100 25 to 100 12.5 to 25 . 5 to 12.5 Sb (ppm) 726 3 to 6 1.5 to 3 0.75 to 1.5 Legend: 父 Historic mine workings Tenement outline Completed drill hole River New soil anomalies 652,500 m Red lines on the gravity image represent contoured gravity gradients and define linear features interpreted to represent basement off-sets and major structures. TSXV: JG | OTCQB: JGLDF 42#43Ohra-Takamine: CSAMT stacked pseudo-sections with mine locations JAPAN GOLD CORP. Ohra-Takamine Project 646000 ME Map Location Takamine Mine TSXV: JG | OTCQB: JGLDF 645000 m 648.000 mE Ohra-Takamine Central Mine Corridor CSAMT Pseudo Sections with Mine Locations, Gold and Antimony in Soil Urushi Mine 648 000 m 800 000 m Ohra Mine (Ohm-m) 0 1000 www JAPAN GOLD CORP Aira Yamada Mine 父 1.5 kilometers LEGEND 100 父 Historic mine/workings Access road 50m contour 10 Drainage Soil Au (ppb) ≥ 100 • 25 to 100 • 12.5 to 25 . 5 to 12.5 Sb (ppm) 7≥6 3 to 6 1.5 to 3 ⚫ 0.75 to 1.5 650.000 m Tenement outline Coincident CSAMT, soil and alteration anomalies Coincident soil and alteration anomaly 3.522 000 m 43#44Ohra-Takamine: Gold & Silver in soil anomalies with alteration and Structure-Geochem coincident anomalies 3,522,500 mN 3,525,000 mN 3,527,500 mN 645,000 mE Ohra-Takamine Central Mine Corridor Alteration Map with Gold and Antimony in Soil Result Soil Geochemistry Au (ppb) 100 25 to 100 12.5 to 25 5 to 12.5 <5 Sb (ppm) 26 3 to 6 1.5 to 3 -0.75 to 1.5 - <0.75 TSXV: JG | OTCQB: JGLDF Takamine Mine Ohra-Takamine Project Map Location Urushi Mine 0 645,000 mE 647,500 mE 1.5 200 650,000 mE 652.500 mE Ohra Mine kilometers 647,500 mE 650,000 mE Aira Yamada Mine 父 LEGEND 父 Japan Gold drill hole MMAJ drill hole Smectite Illite-smectite Historic mine/workings Access road 50m contour Drainage Tenement outline Coincident CSAMT, soil and alteration anomalies Coincident soil and alteration anomaly 652,500 mE JAPAN GOLD CORP. JAPAN GOLD 3,522,500 mN 3,525,000 mN 44