#1JAPAN GOLD CORP. KYUSHU HONSHU CORPORATE PRESENTATION September 2023 HOKKAIDO TSX-V: JG OTCQB: JGLDF#2FORWARD-LOOKING STATEMENTS 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. Specifically, 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 such as the timing and granting of prospecting rights; the Company's ability to convert prospecting rights into digging rights within the timeframe prescribed by the Mining Act; 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. All photos property of Japan Gold Corp. 3 Japan Gold Corp. | Corporate Presentation | September 2023 JAPAN GOLD CORP.#3A RICH HISTORY OF GOLD MINING ☐ ■ 500 years of gold mining across the three main islands of Japan ■ Government imposed the closure of gold mines during World War II to redeploy the labour force into other sectors with limited production post World War II ■ Prior to World War II, the five largest mines produced over 1M ounces of gold with the largest producing over 2.5M ounces ■ In 1981, the Hishikari Mine was discovered and is a 13M ounce gold deposit that is one of the highest-grade Tier 1 gold mines in the world; having produced approximately 8.3M ounces with an average grade in excess of 30 g/t to date Currently, the Sumitomo Metal Mining Co. Ltd.'s Hishikari Mine is the only operating gold mine in Japan ■ These historic mining areas are underexplored using modern mining methods JAPAN GOLD CORP. 4 Japan Gold Corp. | Corporate Presentation | September 2023#4MINING JAPAN TODAY The Government changed the Mining Act in 2012 to allow foreign companies to enter Japan and restart the gold mining industry in an effort to stimulate local economies With a conservative culture and the perceived high risk of exploration, no Japanese companies currently have a mandate to explore in Japan 5 Japan Gold Corp. | Corporate Presentation | September 2023 JAPAN GOLD CORP.#5INVESTMENT RATIONALE First mover advantage in Japan based on 2012 change to the Japan Mining Act Strategic Alliance with Barrick Gold Corp. Japan Gold is independently sole funding and advancing its high priority projects in 2023 Further optionality for new potential partners in the largest portfolio of highly prospective mineral rights in Japan, ~3,300 square kilometres Significant institutional and industry shareholders Management team with proven track record of identifying mineral deposits and advancing them to production 6 Japan Gold Corp. | Corporate Presentation | September 2023 JAPAN GOLD CORP.#6PILLARS OF STRENGTH I. Barrick Gold Corp. countrywide Strategic Alliance II. High priority projects being advanced by Japan Gold • Newmont has provided significant technical support on two of these projects III. Large portfolio of highly prospective mineral rights in Japan comprising . • • almost 3,300 square kilometres As first mover, Japan Gold recognized highly prospective areas of Japan that had received limited or no modern exploration but that had a rich history of high-grade gold mining Under the Japan permitting system, there is a minimal cost to apply for prospecting rights and minimal holding costs compared with other international jurisdictions Japan Gold moved quickly to acquire key areas in the five gold districts of Japan • Potential for future partnerships and work programs 7 Japan Gold Corp. | Corporate Presentation | September 2023 JAPAN GOLD CORP.#7OUR STRATEGIC ALLIANCE Barrick Gold Corp. is solely funding our projects through the completion of bankable feasibility ("BFS") in order to earn a 75% interest ✓ Barrick requires projects to have the potential to host either a Tier 1 (> 5M ounces with annual production of .5M ounces of gold) or Tier 2 (>3M ounces with annual production of .3M ounces of gold for 10 years) ore body to advance under our alliance ✓ Barrick has provided funding of US$10.6M for these activities, to date Initial Evaluation Phase Second Evaluation Phase Identification of a Designated Project Upon completion of a PFS Completion of a BFS a Barrick will earn a 51% interest and may elect to sole fund a Designated Project to a BFS 2 PROJECTS | 3 EXTENSIONS Barrick sole funds an Initial 2-year Evaluation Phase of each project Japan Gold manages each project, subject to Barrick's right to become the Manager of a project 6 PROJECTS Barrick sole funds a 3-year Second Evaluation Phase on six projects which meet the Barrick criteria of a potential to host a Tier 1 or Tier 2 ore body as Barrick may identify a project Designated Project at any time during the First or Second Phase, and Barrick may elect to sole fund the completion of a pre-feasibility study 8 Japan Gold Corp. | Corporate Presentation | September 2023 Barrick interest will increase to 75% upon solely funding a project through to a BFS Japan Gold will be carried through completion of the BFS and retain 25% interest in the project JAPAN GOLD CORP.#8BARRICK ALLIANCE PROJECTS Barrick is currently advancing SIX PROJECTS through the Second Evaluation Phase and will be continuing their Initial Evaluation Phase on two projects and three extensions Hokkaido Honshu • Aibetsu Project • Tenryu Project • Aibetsu East Extension and Tenryu Extension . Hakuryu Project • Nakanosawa Project • Kamimuri Project • Togi Project Togi Extension • Mizobe Project Kyushu • Ebino Project 9 Japan Gold Corp. | Corporate Presentation | September 2023 JAPAN GOLD CORP.#9BARRICK ALLIANCE WORK PROGRAMS Second Project Evaluation Phase Mizobe Three initial framework drill holes completed with positive results and multiple additional drill holes planned for Q4 Aibetsu Tenryu Togi Hakuryu IP Survey of a 5 square kilometre priority area underway, drilling on success Tenryu is being advanced in association with the Aibetsu activity Advance with CSAMT to drill targeting over an 8-kilometre trend IP survey for drill targeting, drilling on success Initial Project Evaluation Phase Aibetsu East Extension Tenryu Extension Nakanosawa Kamimuri Togi Extension 10 Japan Gold Corp. | Corporate Presentation | September 2023 Mapping, geology, geochemistry and geophysics JAPAN GOLD CORP.#10DISCOVERY & DEVELOPMENT TRIANGLE Mining Resource Definition Advanced Drill Targets Follow-Up Drill Targets Drill Targets Identified Prospect Scale Target Delineation Priority 1: Generative | Conceptual Ikutahara (Ryuo, Saroma prospects) Mizobe Ikutahara (Kitano-o prospect), Buho Ebino 0 0 0 2 3 Ikutahara, Bajo, Ohra-Takamine Priority 2: Onne, Tobaru Kamitsue, Priority 3: Togi 23 Numanoue, Harutomi, Fujimi, Minamikayabe, Usa Aibetsu Tenryu Sanru, Kanehana, Kushikino-Iriki, Kowa, Gumyo Yaeyama, Hakuryu Taio OT-Yaeyama Isa, Kurino, Tobaru-Fuke, Mizobe West, Onoyama-Yamagano, Onoyama, Mizobe-Onoyama Japan Gold Projects 11 Japan Gold Corp. | Corporate Presentation | September 2023 Kamimuri Nakanosawa 6 Barrick Alliance Projects 35 TOTAL JAPAN GOLD CORP.#11COMPANY SNAPSHOT CAPITAL STRUCTURE* OWNERSHIP Shares Issued & Outstanding 256,515,479 INSTITUTIONS & 60% Options 19,905,000 FUNDS (average weighted price ($0.30) Warrants PUBLIC FLOAT 25% 1,947,500 (average weighted price C$0.20) NEWMONT 9% Fully Diluted Shares Outstanding 278,367,979 Fully Diluted Market Capitalization @ C$0.105 C$29.2M MANAGEMENT & INSIDERS 6% *as of September 1, 2023 ANALYST COVERAGE Jonathan Guy HANNAM&PARTNERS Timothy Lee REDCLOUD SECURITIES INC 12 Japan Gold Corp. | Corporate Presentation | September 2023 JAPAN GOLD CORP.#12EXECUTIVE TEAM John Proust Chief Executive Officer Mr. Proust has founded numerous public and private resource companies and served on many boards and held senior operating positions leading strategy, debt and equity financing, strategic alliances, mergers and acquisitions and corporate restructuring. Takashi Kuriyama, B.Eng. General Manager Exploration A geologist with over 42 years of exploration and mining business experience. Served at Sumitomo Metal Mining Co., Ltd., from 1974 until his recent retirement and was a Director of Teck Resources Ltd. from 2006-2016. Vince Boon, CPA, CA Chief Financial Officer A Chartered Accountant with more than ten years of experience in both private and public companies in the resource sector and serving in the roles of Controller and Chief Financial Officer. Andrew Rowe, BSc, FAusIMM, FSEG Vice President Exploration A geologist with more than 30 years of exploration and project management experience in Australia and the Asia-Pacific region. Initiated the Japan Gold entry into Japan and has been instrumental in leading its exploration programs. Brenda Dayton Vice President Corporate Communications Over 15 years of communications and compliance experience within the mining industry including serving in a variety of executive and senior roles and is a Director of the Canadian Institute of Investor Relations, BC Chapter. Yoshio Nojima, LLB, MBA General Manager Business Administration Mr. Nojima worked for Sumitomo Corporation for 40 years specializing in mineral resources and investment. In the Tokyo Head Office of Sumitomo Corporation, Mr. Nojima was General Manager responsible for investing in private equity globally. 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. 13 Japan Gold Corp. | Corporate Presentation | September 2023 JAPAN GOLD CORP.#13BOARD OF DIRECTORS OUCER John Proust, Chairman Mr. Proust has successfully founded and managed numerous public and private resource companies. He has served on various boards and held senior operating positions leading corporate strategy, financings, strategic alliances and corporate restructuring. lan Burney Mr. Burney is an accomplished public service executive and diplomat with over 30 years of experience in international affairs, particularly in the area of global economic issues. Mr. Burney was the Ambassador of Canada to Japan from 2016 to 2021. Michael Carrick Mr. Carrick is the Chairman of RTG Mining Inc. since 2013 and is responsible for the development of seven major gold mines in five countries. Mr. Carrick is a Chartered Accountant with over 30 years of experience in the resources sector. Paul Harbidge A geologist with over 26 years of experience and a proven track record in the discovery of world class gold deposits. Paul is the CEO of Faraday Copper Corp. and previously he was the President & CEO of GT Gold. And worked with Goldcorp and Randgold Resources. Tanneke Heersche Ms. Heersche is an expert and strategic advisor in the natural resources industry with 25 years of international industry experience. From 2010 to 2023, Ms. Heersche was a senior partner at Fasken Martineau DuMoulin LLP. and previously a partner at White & Case LLP. Takashi Kuriyama A geologist with over 42 years of exploration and mining business experience, Mr. Kuriyama has served in senior roles with Sumitomo Metal Mining Co., Ltd., from 1974 until his recent retirement as General Manager of the Global Exploration and Development Department. Murray Flanigan A Chartered Accountant and Chartered Financial Analyst with over 25 years of management and business development experience across multiple industries for Canadian & US companies including CFO of Kepis & Pobe Financial Group Inc. and VP of Corporate Development for Adelphia Communications. 14 Japan Gold Corp. | Corporate Presentation | September 2023 JAPAN GOLD CORP.#14OUR ADVANTAGES First mover securing the most prospective areas in Japan Stable jurisdiction with established regulatory framework Advancing projects in areas of underexplored terrain with known mineralization Proven track record of identifying mineral deposits and advancing them to production Geologists, management and advisors with experience working in Japan Drilling division with four compact diamond core drill rigs and 26 expert expat drillers operating in Japan Strategic Alliance with Barrick Gold Corp. with six projects advancing with the potential to host Tier 1 or Tier 2 ore bodies 15 Japan Gold Corp. | Corporate Presentation | September 2023#15JAPAN GOLD PROJECTS athl#16PRIORITY PROJECTS Hakuryu (4,901 ha) JAPAN GOLD Japan Gold Projects Barrick Alliance Projects Sanru (41,394 ha) 1 Aibetsu (11,007 ha) Tenryu North Taio (7,009 ha) Kamitsue (4,069 ha) (3,639 ha) Nakanosawa (1,938 ha) Tobaru-Fuke Buho (2,770 ha) Numanoue (1,296 ha) Ikutahara (21,332 ha) Kamimuri (47,984 ha) 1 Ikutahara | Kanehana | Sanru Kanehana (17,348 ha) Hokkaido 2 Onne (2,998 ha) 2 (10,935 ha) Isa (5,964 ha) Usa (1,838 ha) Gumyo Bajo (10,774 ha) (4,478 ha) Honshu Tobaru Ohra-Takamine (3,705 ha) (1,347 ha) Ebino Kowa (15,741 ha) (389 ha) Kushikino-Iriki (11,163 ha) Yaeyama (5,460 ha) OT-Yaeyama (6,503 ha) 4 3 Kyushu Mizobe (5,163 Ha) Mizobe West (2,417 ha) Kurino (933 ha) Onoyama (2,784 ha) Onoyama-Yamagano (12,049 ha) Fujimi (2,201 ha) Harutomi (1,672 ha) Minamikayabe (638 ha) Togi / Togi Ext. (18,467 ha) N Mizobe-Onoyama (5,126 ha) 0 250 500 km Host to the Kitano-o placer mine (96 Koz produced) and numerous other well- preserved and under-explored vein prospects. Kanehana contains interpreted strike extensions to Ikutahara prospects, and stand- alone prospects with high-grade vein events. Buho Historical workings with open strike extensions and historical drilling intersected 3.5 m @ 21.8 g/t gold. Located along same gold fertile structure that hosts the 188 Koz Todoroki mine. 3 Bajo | North Taio Historical production 420 Koz gold, 336,000 of which were mined at grades greater than 120 g/t. Targeting potential extensions and parallel repetitions of the Bajo system and a large-scale system at North Taio. 4 Ohra-Takamine | Kushikino-Iriki Ohra-Takamine located along strike from the multimillion-ounce Hishikari, and Yamagano gold mines. Historical production includes high-grade shoots up to 21 Koz at grades >20 g/t gold. Kushikino-Iriki directly along strike of the 1.8 Moz Kushikino gold mine 17 Japan Gold Corp. | Corporate Presentation | September 2023 JAPAN GOLD CORP.#171. IKUTAHARA | KANEHANA Significant work completed with robust gold results and clear delineation of large mineralized districts: . Ryuo Prospect (3 km) . • Kitano-o Prospect (4 km) Saroma-Jomon Corridor (+8 km) JAPAN GOLD IKUTAHARA & KANEHANA PROJECTS SIMPLIFIED GEOLOGY, PROSPECTING RIGHTS AND APPLICATIONS Year 1 Program N Ryuo Prospect North Kitano-o Prospects Ryuo Mine 0 5 10 Kilometers Setose Mine Kitano-o Mine 父 96,000 oz Gold Asahig, Axebang Min 父 Sakinzawa Toge Koki Mine ㄨ Kitano-o Prospect utahard-1 Mine Showa Mine Yahagi Mine Saroma - Jomon Corridor X Chitose Mine Hakushin Mine Taiho Mine Tahoku Mine Jonon 父 Muka Mine Tomimon Mine Tenryu Mine Tokoro-1 Mine Rubeshibe Mine 父 Tokpro-2 Mine Hosei Mine Legend Map Location • Hokkaido Ikutahara project prospecting rights Ikutahara project prospecting rights applications Kanehana project prospecting rights .... applications Quaternary sediment Miocene-Pliocene volcanics Cretaceous basement Refine drill targets on vein strike extensions and parallel vein zones at Ryuo, Saroma and Kitano-o (mapping, expand soil geochemistry and geophysics) Drill target at Kitano-o East Year 2 Program • Drill three targets at Kitano-o South District (3 prospects) Drill targets at Saroma-Jomon Corridor (4 prospects) Drill targets at Ryuo Prospect Jindal Mine Hyakuhou Mine X Souryu Mine Kokka Mine Taisei Mine 18 Japan Gold Corp. | Corporate Presentation | September 2023 Completed Soil geochemical grids Mine/workings ㄨ River JAPAN GOLD CORP.#181. SANRU • Sanru Mine past production of 225 Koz gold • District-scale NE structures localise the Sanru, Hokuryu and Omui mineralization Untested potential lies along the Sanru mine strike Major scale potential with multiple repeated structures supported by gold anomalies over 10 km area; many coincident historical workings Map Location Sapporo Hokkaido Hokkaido 30000 650000 Hokuryu 10 Km 64 koz Au 379 koz Ag Omiya-zawa Mosanru Au Ag Jugosen-zawa Au-Ag 父 Sanru 225 koz Au 1.5 moz Ag Historic mine Drill hole Interpreted structure Quartz veins Sanru Project 77 Omui Au-Ag Pliocene to Holocene Miocene First order structure Second order structure Godo Shigen tenement Project tenement Cretaceous to Jurassic 19 Japan Gold Corp. | Corporate Presentation | September 2023 BLEG anomalies 660000 Au>8 ppb JAPAN GOLD Year 1 Program . Drill targeting work (soils and geophysics) over Sanru strike extension. Prospect evaluation of new gold-bearing structures Geology Hg Sb Se Te> 2864 ppb Post min sediments and volcanics Andesite volcanics, Junisenzawa Rhyolite volcanics & Liparite Sandstone, mudstone, tuff and conglomerate Andesite volcanics, Shakingawa Rhyolite intrusive Basement Year 2 Program • Drill JAPAN GOLD CORP.#192. BUHO Defined drill targets based on historical drilling and geophysics; historical drilling intersected 3.5 m @ 21.8 g/t gold • Major district-scale NW structure localizes gold mineralization at Todoroki (188 Koz Au) and the under-explored Buho targets New areas are defined by alteration and geochemistry demonstrate potential for additional vein zone development along the NW structure to the NW JAPAN GOLD Pb Zn Au Buho West Buho Cu Zn Legend Japan Gold Prospecting Rights & Applications Barrick Alliance Initial Evaluation Phase Historic mines Rivers Access road Contours Historical geophysics survey area AUAg Historical drill collar Quartz vein Fault Quaternary sediment Volcanics 5 km Follow up anomalies 20 Japan Gold Corp. | Corporate Presentation | September 2023 Map Location Cu ㄨˋ Sapporo Cu Cu ㄨㄨˊ Hg Meiji Cu Nakanosawa Au Ag Nakanosawa ㄨ Todoroki Mine: 188,339 oz Gold 父 Au Ag Year 1 Program • Define additional drill targets in new areas (field mapping, ridge and spur soil sampling and geophysics) Year 2 Program • Drill JAPAN GOLD CORP.#203. BAJO High-grade mineralization mined at Bajo included 336 Koz at grades greater than 120 g/t Au from the Sakura hi vein Highest grades developed at granite/ overlying volcanic interface, well defined conceptual targets include the western strike extension of the Bajo mine, and a potential preserved Bajo structural repetition in the 3 km long vein corridor on the west side of the project Geology JAPAN Pleistocene to Holocene Late Pliocene Early Pliocene Post min sediments and volcaniclastics Andesite to dacite volcanics Andesite to dacite pyroclastics Andesite to dacite volcanics Andesite to dacite pyroclastics GOLD 723000 Miocene Silurian to Cretaceous Granite Basement Hinoji Au Ag Sb Fujiyama Au Ag Ohtaka Au Ag Hinode Au Ag Yamaura Mizuho Au Ag 父 Bajo Project Au Ag Tsurunari Au Ag 21 Japan Gold Corp. | Corporate Presentation | September 2023 Bajo Au Ag Sb 400 koz Au Km 733500 Kitakyushu Fukuoka Map Location Kyushu Saga Shi Kumamoto-Sh Kunitoku Au Ag 8652 • Year 1 Program . Complete mapping and soil. grids Prepare drill hole targets Drill in 2024 Hotsprings Historic mines First order structure Graben Boundary Project tenement --- Quartz veins Au (ppb) in BLEG 20 JAPAN GOLD CORP.#213. NORTH TAIO • Positioned immediately along strike of the 1.2 Moz Taio mine, the provinces largest gold mine . Clear target area >4 km², defined by an alteration, pathfinder element, and geophysical signature that are strongly analogous in scale and character to that developed at Hishikari The MMAJ recommended continued drilling but the program was never executed 065000 Kosho-Hoshino Au-Ag Shinko-Hoshino 670000 Au-Ag 675000 680000 Overall Hoshino 130 Koz Au Suzumino Au - Ag Yuuki Au - Ag Ogata Au - Ag Kumado Kamikumado Au - Ag Au - Ag Taio-Hoshino Au-Ag Yame Au-Ag Yamaguchi Kitakyushu Fukuoka Map Location Year 1 Program Sage Cite Nagasaki North Taio Project Kumamoto Ground truth known target areas Hoshino group mines Nissou-Nitabaru combined production 130Koz Au Au Ag 父 Mikura Au - Ag Tono-o Au-Ag Umeno Au - Ag Taio Au - Ag 1.2 Moz Au @ 6.3 g/t ** 000 Hotsprings Historic mines Quartz vein MMAJ defined hydrothermal alteration Fault First order structure -Second order structure Schlumberger Pleistocene to Holocene Miocene to Plocene geophysical survey line Miocene Japan gold tenement Third party tenements Rock samples Soil samples Post min volcanics & volcaniclastics Felsic volcanics Andesite volcanics Felsic volcanics Silurian to Cretaceous Granite Basement 5 10 Km N 0 22 Japan Gold Corp. | Corporate Presentation | September 2023 Miyazaki Kyushu Kagoshima Kamitsue Project 5000 Kamitsue Mine Au-Ag Prepare drill hole targets JAPAN GOLD Year 2 Program Drill JAPAN GOLD CORP.#224. OHRA-TAKAMINE AND KOWA • Comprehensive company data set over the main (3.5 km) mineralized corridor containing multiple veins and extensive alteration (detailed mapping, soil samples, prospect scale gravity and CSAMT geophysics) 3D modelling and integration undertaken to develop drill targets www.yo Fukuoka Kyushu Hokusatsu Hishikari Mine shikino Mine Map Location 2 km A Ohra-Takamine Project Ohra Mine: >28,000 ounces of gold produced, including 21,000 ounces mined at grades >20 g/t Au Takamine Mine: 1,600 ounces of gold produced at an average grade of 5.1 gt Au, 28.3 g/t Ag Yamada Mine: 7,000 tonnes of ore mined at average grade of 4-5 g/t Au and 1000 g/t Ag Aira Yamada Mine Urushi Mine: 13,000 ounces of gold produced at an average grade of 9.1 g/t Au and 18.6 g/t Ag 父 Kowa Mine Workings 父 Kowa Project 父 Matsuno Mine Production data referenced from: 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. Legend Tenement Historic mine Gravity, soil, and CSAMT coverage Quartz vein Access road Contour Drainage MMAJ drill hole Japan Gold drill hole Drill proposal Quaternary sediment Volcanics Strike extension targets & follow up areas 23 Japan Gold Corp. | Corporate Presentation | September 2023 Year 1 Program . Drilling: 1 drill hole was completed and 3 drill holes are being considered to test vein targets between the historical Ohra and Takamine mines Generate drill targets at Matsuno Mine area and Kowa Project JAPAN GOLD CORP#234. KUSHIKINO-IRIKI Comprehensive information available from adjacent Kushiko Mine (1.8 Moz gold) and MMAJ data sets High priority project with very anomalous geochemistry and concealed areas extending along strike from Kushikino Pleistocene to Pliocene Holocene Nagasaki Oita 0 1.25 2.5 5 N 125000 Km Kyushu Kumamoto Miyazaki Map Location Kagoshima Geology Alluvium, rhyolite/dacite pyroclastics and andesite volcanics Basalt and andesite volcanics Undifferentiated andesitic and dacitic volcanics (Hishikari Lower Andesite in Ebino area) Basalt volcanics Andesite volcanics Andesite and dacite volcanics Rhyolite volcanics Yaeyama sediments Pre/Syn Min! Post Min Kushikino 1.8 Moz @ 6.7 g/t Au JAPAN GOLD Year 1 Program Generate drill targets by modelling of existing data set to define data gaps and subsequent required programs, (soil grids and geophysics) Year 2 Program Kushikino-Iriki Project Drill high priority targets Historic mines - Structure Drillholes Coast line Vein deposits 1st Order structures 2nd Order structures Silica alteration Hydrothermal alteration Third Party tenement Project tenement 24 Japan Gold Corp. | Corporate Presentation | September 2023 Yeayama Project JAPAN GOLD CORP.#242022 WORK PROGRAMS Completed with Promising Results Ikutahara Project - Multiple Prospects Ryuo prospect • • • 20 diamond drill holes completed in 2022 and 2021 Drilling continues to encounter high-grade veins along the Ryuo alteration corridor Prospect area significantly expanded by positive results from large-scale soil sampling program • High-grade intervals include: IKDD21-010: 20 m @ 6.3 g/t Au & 15.7 g/t Ag IKDD21-008: 0.45 m @ 1,395 g/t Au & 768 g/t Ag IKDD21-007: 1 m @ 30.0 g/t Au & 284 g/t Ag IKDD21-001: 4.9 m @ 12.1 g/t Au & 33 g/t Ag Saroma Valley prospect • 6 drill holes completed with high-grade silver assays 2023 programs are designed to expand the strike extent from 3.5 km to more than 8 km Kitano-o East prospect: • • 3 drill holes completed • Drilling results provided a greater understanding of the geological model and guide further drilling planned for 2023 25 Japan Gold Corp. | Corporate Presentation | September 2023 OSEEE 5 3 2 JAPAN GOLD CORP.#25JAPAN GOLD CORP. Corporate Office Suite 650, 669 Howe Street Vancouver, BC V6C 0B4 Canada Phone: +1 (778) 725-1491 Email: [email protected] f in TSXV|JG OTCQB | JGLDF