#1G Mining Ventures Corp. - Tocantinzinho Project Financing BUY. BUILD. OPERATE. (TSXV:GMIN) July 18, 2022 All figures are in U.S. dollars unless otherwise noted. GMINING VENTURES#2Forward-Looking & Cautionary Statements Generally, forward-looking information can be identified by use of words such as "outlook", "objective", "may", "could", "would", "will","expect", "intend", "estimate", "forecasts", "project", "seek", "anticipate", "believes", "should", "plans" or "continue", and other similar terminology. Forward-looking information may relate to G Mining Ventures Corp. ("GMIN" or the "Corporation"), its future outlook and that of its affiliates when applicable, and to anticipated events or results; and may include statements regarding the financial position, business strategy, growth strategy, acquisition plans, management, budgets, operations, financial results, plans and objectives of GMIN, or of its affiliates when applicable. Statements regarding future results, performance, achievements, prospects or opportunities of GMIN, or of its affiliates when applicable, and similar statements concerning anticipated future events, results, circumstances, performance or expectations are also forward-looking statements. All statements, other than statements of historical fact, contained in this presentation constitute "forward-looking information" and "forward-looking statements" within the meaning of certain securities laws. Forward-looking statements contained in this presentation include, without limitation, those relating to: GMIN to become a leading intermediate gold producer; The Tocantinzinho (TZ) Project development schedule and upcoming "value drivers" listed hereinafter, notably without limitation the H2-2022 construction decision and the H2-2024 commencement of commercial production; • The TZ Project to become Brazil's third largest gold mine and how it benchmarks with other Brazilian operations; • The Project's permitting status; . The TZ Project's economics outlined hereinafter, notably without limitation - after-tax NPV and IRR, development CAPEX, annual and life of mine EBITDA, and the sensitivity of such economics to the price of • • • • gold; also the TZ Project's future gold production and cost profiles; The estimates and highlights derived from the 43-101 feasibility study filed with Sedar in February 2022, which are outlined in this presentation (notably the mineral resources and reserves); The overall funding potential of $535M and this being more than the TZ Project's outstanding capital cost of $437M, as well as GMIN's use of financing proceeds; The GMIN shares to be held by La Mancha, Franco-Nevada and Eldorado Gold respectively and such parties' intents in terms of long-term involvement, notably regarding future financings and acquisitions; The TZ Project's exploration potential (near deposit as well as regionally); GMIN's expected increasing value (and opportunity to "re-rate" over time) as the TZ Project is de-risked during construction and is operated (and benchmarking with peers); GMIN's implementation of its ESG strategy; The expected benefits to be derived from GMIN's business relationship with G Mining Services Inc. (notably by leveraging the latter's mine building track record); and The TZ Project's upcoming catalysts and expected timeline to production; its production profile and its anticipated strong economics (and comparison with peers). Forward-looking information in this presentation is based on certain assumptions and on the opinions and estimates of GMIN management as of the date such statements are made; and it is subject to known and unknown risks, uncertainties, assumptions and other factors that may cause the actual results, level of activity, performance or achievements of the Corporation, or of its affiliates when applicable, to be materially different from those expressed or implied by such forward-looking information. Although management of the Corporation believes that the assumptions, estimates and expectations represented in such forward- looking information are reasonable, there is no assurance they will prove to be correct. These assumptions, estimates and expectations include, without limitation: TSXV:GMIN 2#3Forward-Looking & Cautionary Statements • The approval by GMIN shareholders of La Mancha's second tranche subscription bringing its GMIN shareholdings to 25% of the total outstanding; The future price of gold (notably, the base and spot cases); The closing of the equipment financing: Brazil's supportive government policies (notably as regards taxation) and favorable macro climate (notably as regards he BRL:USD exchange rate); The budgetary quotes used to determine certain capital cost estimates; and The reinstatement of suspended Lis (as defined hereinafter). In particular, but without limitation, there can be no assurance that: All permits necessary to build the TZ Project will be obtained or, as applicable, reinstated; A construction decision will be made; The price of gold will remain conducive to bring the TZ Project in commercial production; GMIN will eventually meet all conditions to draw on the Streaming and/or Term Loan Agreements with Franco-Nevada; La Mancha, Franco-Nevada and Eldorado Gold will be aligned with other shareholders; GMIN's performance as a La Mancha investment will replicate that of other La Mancha investments; GMIN share price will experience positive re-rating or that it will compare favorably with that of other producers; The business conditions in Brazil will remain favorable; GMIN will eventually bring the TZ Project into production and that GMIN will become an intermediate gold producer; G Mining Services' mine building track record will replicate its past successes with the TZ Project; as future events could differ materially from what is currently anticipated by the Corporation. By their very nature, forward-looking statements involve inherent risks and uncertainties (both general and specific) and the risk that the expectations represented in such forward-looking statements will not be achieved. Undue reliance should not be placed on forward-looking statements, as a number of important factors could cause the actual events, performance or results to differ materially from the events, performance and results discussed in the forward-looking statements. These factors include, among other things: changes in laws and regulations affecting GMIN, or its affiliates when applicable, and their respective business operations, changes in taxation of GMIN, or its affiliates when applicable, general business conditions and economic conditions in the markets in which GMIN, or its affiliates when applicable, compete, actual future market conditions being different than anticipated by management and the GMIN board of directors, and actual future operating and financial results of GMIN, or of its affiliates when applicable, being different than anticipated by management and the GMIN board of directors. Readers are cautioned that the foregoing list is not exhaustive. Readers are further cautioned that the preparation of financial statements in accordance with IFRS requires management to make certain judgments and estimates that affect the reported amounts of assets, liabilities, revenues and expenses. These estimates may change, having either a negative or positive effect on net earnings as further information becomes available, and/or as the economic environment changes. Additional information on these and other factors is included in other reports filed by the Corporation with Canadian securities regulators and available at www.sedar.com. The forward-looking statements contained in this presentation are expressly qualified in their entirety by these cautionary statements. The forward-looking statements contained herein are made as of the date of this document and the Corporation does not undertake any obligation to publicly update such forward-looking statements to reflect new information, subsequent events or otherwise unless so required by applicable securities laws. No representation or warranty, expressed or implied, is made as to the accuracy or completeness of the information contained in this presentation. Certain information contained herein has been secured from third party sources believed to be reliable, but GMIN makes no representations or warranties as to the accuracy of such information and accepts no liability therefor. This document is not a solicitation for the sale of securities of the Corporation and under no circumstances is to be construed as, a prospectus, offering memorandum, or advertisement or a public offering of securities. Offers to sell, or the solicitations of offers to buy, any security can only be made through official offering documents that contain important information about risks, fees and expenses. TSXV:GMIN 3#4Table of Contents 1 Transaction Overview 2 GMIN - Corporate Overview 3 Tocantinzinho Project Overview 4 ESG & Benchmarking 5 14 22 32 32 5 Appendix Summary of Transaction Terms 42 6 Appendix Overview of G Mining Services 46 TSXV:GMIN 4#5Transaction Overview#6Strong Partnerships in Place Tocantinzinho is funded for construction with support from multiple world class, long-term financial institutions and leading mining sector participants G Gold Stream: $250 million Franco Nevada Term Loan: $75 million Equity: $28 million MINING VENTURES la mancha Equity: $69 million (2) $481 million (1) comprehensive financing solution eldorado gold Equity: $20 million CAT Equipment Financing: $40 million (3) Financial $535 million from comprehensive financing package and cash on hand provides GMIN with $81 million buffer inclusive (1) Tranches may not sum to total due to rounding. of cash and budgeted contingency(4) (2) $54.5 million closing in July 2022, with the balance of $14.3 million subject to GMIN shareholder approval. (3) Credit-approved term sheet from Cat Financial for a total up to $40 million in equipment financing. (4) See sources and uses table on slide 11. TSXV:GMIN 6#7Equity Financing - $116 Million to Strategic Investors Private Placement: $116 Million (C$151 Million) 189,066,765 common shares at C$0.80 La Mancha: $68.8 million (C$89.5 million) Pro-Forma Shareholder Summary La Mancha Investments S.a.r.l 25.0% Shares Aggregate Proceeds Eldorado Gold Corp. (TSX:ELD) 17.7% First Close 88.6 million $54.5 million Franco-Nevada Corp. (TSX:FNV) 9.9% Second Close (1) 23.3 million $14.3 million Total 111.9 million $68.8 million Gignac Family, Management. & Board 7.8% 25.0% pro-forma basic ownership Franco Nevada: $27.5 million (C$35.8 million) 44.7 million shares issued 9.9% pro-forma basic ownership Eldorado Gold: $20.0 million (C$26.0 million) 32.5 million shares issued 17.8% pro-forma basic ownership from total holding of 79.4 million shares OCI Global Asset Management Lundin Group & Affiliates Sprott & Affiliates Van Eck Associates Retail and Other Investors Franklin Templeton 5.8% ASA Gold and Precious Metals 5.2% 5.2% 4.5% 3.4% 2.8% 12.6% Strategic 53% Insiders 8% Institutional 33% Other(2) 7% (1) Subject to GMIN shareholder approval. (2) Numbers may not sum to 100% due to rounding. TSXV:GMIN 7#8Franco-Nevada - Comprehensive Financing Package Franco-Nevada providing a $353 million full financing solution including Stream, Debt and Equity Franco Nevada O Leading gold-focused royalty and streaming company globally O Establishment of long-term partnership for future financings and acquisitions O Alignment with GMIN shareholders through 9.9% equity interest One of Franco-Nevada's largest gold streams on a primary gold mine $250 million Gold Stream $75 million Senior Term Loan $27.5 million Equity 12.5% of gold production over the life of mine Reduction to 7.5% after delivery of 300,000 ounces of gold Reserve life currently delivers ~229,000 ounces of gold (~75%) Facility assumes 3-5-year mine life extension using LOM averages Ongoing payments to GMIN of 20% of the spot gold price at delivery O Term: 6.0 years Availability Period: 3.5 years multi-draw facility at GMIN's discretion O Interest: SOFR(1) + 5.75% pre-project completion, reducing to SOFR +4.75% post completion O 2.0-year holiday with interest and fees accrued and capitalized O No mandatory hedging, production payments, or offtake required C$35.8 million investment to align interest with shareholders 44.7 million shares issued at C$0.80 O 11.5 million warrants issued as part of Term Loan with C$1.90 strike price (2) (138% premium to equity issuance price) and 5-year term O Pro-Forma Ownership: 9.9% basic | 11.1% fully diluted (1) Secured Overnight Financing Rate. (2) Exercise price equals the exercise price of the existing 37.5 million warrants issued as part of GMIN's September 2021 financing, the only currently outstanding warrants. TSXV:GMIN 8#9La Mancha - $69 Million Strategic Equity Investment Strategic partnership with La Mancha Transformative transaction for 25.0% equity ownership(1) $68.8 million Equity for 25.0% of GMIN 111.9 million shares issued at C$0.80 la mancha (1) $54.5 million closing in July 2022, with the balance of $14.3 million subject to GMIN shareholder approval. Partnership for growth and consolidation Board representation (two Director nominations) TSXV:GMIN 9#10La Mancha Overview La Mancha Fund is one of the largest private investment funds in the mining sector with $1.3 billion (1) in AUM Deep value investment fund dedicated to gold and battery metals mining Primary investment objective is to provide exposure to gold mining assets by long-only investment in listed equities Targets significant stakes in mining companies with strong managerial and geological potential to implement a long- term value creation strategy Investment Strategy Support Project Development O Finance and build Value re-rating over time Track record of supporting growth: The affiliates of La Mancha Fund have actively supported Evolution Mining and Endeavour Mining since 2015 The affiliates of La Mancha Fund have provided specialized technical and board level support and over $600 million of additional expansionary capital, supporting both companies in their transformation into global mid-tier gold producers development projects Assist in unlocking organic growth and value creation (1) As at June 30, 2022. (2) As at August 21, 2020 when La Mamcha Fund divested its stake. Foster Inorganic Growth Promote and support accretive external growth Optimize portfolio ENDEAVOUR MINING Holding: 2015 to Present Ownership: 19.4% Market Cap at entry: C$248 million Market Cap: $5.2 billion (1) Evolution Holding: 2015 to 2020 MINING Ownership: 30% before exit in 2020 Market Cap at entry: A$612 million Market Cap: $7.1 billion (2) TSXV:GMIN 10#11Sources and Uses of Funds Equipment Financing Utilized $32 mm / $40 mm Financing package covers all costs required to build TZ Total Sources: $535 mm Term Loan $75 mm Gold Stream $250 mm $32 mm 1 $8 mm reserve Equity Financing $116 mm Cash On Hand $54 mm Sources Total Uses: $535 mm Cash Buffer $43 mm Contingency $38 mm Remaining TZ Capex Pre Contingency $417 mm Uses Cash and Contingency of $81mm (18%) Equipment Financing Reserve $8mm Repayment of Equipment Financing $13 mm Corporate Costs, NSR Buyback, Exploration, and Financing Costs $16 mm (1) Second tranche subject to GMIN shareholder approval. (2) Excludes contingency and includes recoverable taxes and credits. TSXV:GMIN 11#12Transaction Highlights Financing package enables GMIN to grow into the next mid-tier precious metals producer $481 million comprehensive financing package Partnership between world class financiers and world class mine builders $81 million in cash and contingency inclusive of corporate costs and debt service $$ Addition of two new strategic investors Equity issuance with view to minimizing dilution Platform for growth with financial support in place 888 TSXV:GMIN 12#13Tocantinzinho Project Development Schedule 2022 Q1 Q2 Project Financing 2023 2024 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Detailed Engineering Early Works Grinding Mills Contract Q2 22 Open Pit Pre-Stripping Q4 Construction Power Line Construction Grinding Mills Construction Hot Commissioning 22 Key Milestones Ramp Up Start Commercial Production Q3 24 TSXV:GMIN 13#14GMIN Corporate Overview#15Board of Directors Executive Leadership Executive Team and Board Proven Mine Builders I Aligned with Shareholders Louis Gignac Sr Chair of the Board Louis-Pierre Gignac President and CEO о Over 20 years of experience in the mining industry о Formerly Co-President of G Mining Services Inc. (2007 to 2020) Lincoln Silva General Manager, Brazil о Over 40 years of experience in the о mining industry Formerly VP and General Manager, Brazil at Eldorado Gold Corp. (2012 to 2021) Louis-Pierre Gignac President and CEO Dušan Petković VP, Corporate Development & IR о Over 10 years of experience in resource capital markets Formerly Principal, Private Debt at Sprott Resource Lending Corp. (2012 to 2021) Julie Lafleur VP, Finance and CFO о Over 20 years of experience in the о mining industry Held senior accounting roles with Lundin Gold Inc., Newmont Corporation, and IAMGOLD Corp. Marc Dagenais VP, Legal Affairs & Corporate Secretary ° о Over 30 years of experience in the mining industry Held senior roles with Nemaska Lithium Inc., Kinross Gold Corp., and Cambior Inc. G G Mining Services Master Services Agreement о 0 Support from a deep bench of experienced technical professionals Over $2 billion of capital expenditures delivered on time and on budget Jason Neal Lead Director Elif Levesque Director (1) La Mancha appointee, to be appointed after the close of the first tranche of equity investment.. Norman MacDonald Sonia Zagury Director Director David Fennell Director Karim Nasr (1) Director TSXV:GMIN 15#16Building the next Intermediate Gold Producer Gold Price (US$/oz) $2,500 Mission To build a leading intermediate gold producer by delivering superior returns to our $2,000 shareholders through flawless project Mining Services development. G Mining Service Inc. (GMS) is formed by the Gignac Family Financial Strength $1,500 (Figures in millions) $129 $54 Market Cap (1) Cash(3) $1,000 $200 Acquisition Facility(2) $481 Project Finance Package Gold Inventory 2.1Moz Resource(4) 2.0Moz Reserve $500 $0 2005 (1) TSXV closing price of C$0.65 on 07.15.22, pre project finance package. 2007 Essakane production surpasses 1 million gold ounces Essakane achieves commercial production IAMGOLD retains GMS for the construction of the Essakane Mine, located in Burkina Faso IAMGOLD 2009 2011 Louis Gignac Sr. inducted to the Canadian Mining Hall of Fame G MINING VENTURES G Mining Ventures Corp. (GMIN) is formed FDN achieves commercial production LUNDINGOLD Lundin Gold retained GMS for the construction of the FDN Mine, located in Ecuador GMIN acquires Tocantinzinho Gold Project Newmont retained GMS for the construction of the Merian Mine, located in Suriname Newmont Merian achieves commercial production Merian production surpasses 1 million gold ounces Merian expansion commissioned 2013 2015 2017 2019 (2) $200 million facility commitment for the acquisition and development of mining assets from Sprott Resource Lending Corp. as announced on 01.28. 21. (3) As at June 30, 2022. (4) Resources inclusive of reserves. 2021 TSXV:GMIN 16#17Investment Highlights The Right Gold Story for any Portfolio Mine Builders Four successful mine builds in South America Brazil High Quality Gold Asset in Brazil Reserves totaling 2.0 million ounces at 1.31 g/t 996 km² land package less than 5% drill tested "Run-by-Owners" Mentality Gignac Family, Management & Board own 14% (8% proforma financing) Over $17 million invested to date Strategic Partnerships G Mining Services Master Services Agreement La Mancha - 25.0% shareholder (2) Eldorado Gold - 17.8% shareholder Franco-Nevada - 9.9% shareholder ** High Quality, Robust Feasibility Study After Tax NPV 5% of $622 million and IRR of 24% (1) Avg. production of 175,000 pa at AISC of $681/oz Fully funded to construction decision $481 million comprehensive financing secured $81 million buffer inclusive of $43 cash buffer and $38 million of project contingency Existing cash and equivalents of $54 million (3) (1) After Tax figures using a $1,600 gold price and USD:BRL FX of 5.20. (2) Second tranche subject to GMIN shareholder approval. (3) Cash balance as at June 30, 2022 before equity proceeds. TSXV:GMIN 17#18Opportunity to Re-Rate Target Acquisition Period Known as the "orphan period" value falls after initial excitement as proven require discoveries specialized expertise to execute on project development, as well as large amounts of capital for construction. Company Value Tocantinzinho Acquisition at 0.28x P/NAV GMINING VENTURES "Sweet Spot❞ Where GMIN sits Value begins to rise as the project is de-risked through construction. Value continues to increase as mine opens and analysts re-rate the deposit, bringing more institutional and retail investor interest. Exploration Resource Estimate Scoping/ Feasibility Development Ramp Up Production Note: Acquisition of Tocantinzinho at time of closing, using figures from 2019 FS, at 0.28x P/NAV= $115 million (undiscounted) / NPV5% of $409 million ($1,500/oz Au 1 $4.00 USD:BRL). TSXV:GMIN 18#19Corporate Overview TSXV:GMIN OTCQX:GMINF Pro- Current Shareholder Summary (Figures in millions) forma Shares Outstanding 258 448 La Mancha Investments S.a.r.1(4) Eldorado Gold Corp. (TSX:ELD) 25.0% Strategic 17.7% 53% Options and Warrants Outstanding (1) 46 57 Franco-Nevada Corp. (TSX:FNV) 9.9% Gignac Family, Management. & Board 7.8% Insiders Fully Diluted Shares Outstanding 304 504 8% Franklin Templeton 5.8% Market Capitalization $159 $275 ASA Gold and Precious Metals 5.2% Institutional (Financing package offering price of C$0.80) (C$207) (C$358) OCI Global Asset Management 5.2% 33% Lundin Group & Affiliates 4.5% Cash on Hand $54 $170 Sprott & Affiliates 3.4% Other(2) 7% Enterprise Value $105 $105 Retail and Other Investors 15.4% Financing Package C$625 Analyst Coverage $481 Acquisition Facility (3) C$260 $200 BMO CORMARK NATIONAL BANK OF CANADA FINANCIAL MARKETS PARADIGM Capital Markets Sprott CAPITAL RBC SECURITIES INC. (1) Warrants: 37.5 million with WA strike price of C$1.90 and WA life of 2.21 years; 11.5 million to Franco-Nevada with strike price of C$1.90 and 5-year term | Options: 8.1 million with WA strike price of C$1.18 and WA life of 5.23 years. (2) Numbers may not sum to 100% due to rounding. (3) $200 million facility commitment for the acquisition and development of mining assets from Sprott Resource Lending Corp. as announced on 01.28. 21. TSXV:GMIN 19 (4) Second tranche subject to GMIN shareholder approval#20Building Brazil's 3rd Largest Gold Mine Leadership team successfully led the construction of four mines in South America: Fruta del Norte - Lundin Gold Corporation (Ecuador); Merian Newmont Corporation (Suriname); Rosebel - Cambior Inc. (Suriname); and - Omai Cambior Inc. / Golden Star Resources Ltd. (Guyana). Fruta del Norte Omai Merian Rosebel BRAZIL Tocantinzinho ("TZ") What we like. Supportive Government Policies Environmentally Friendly Infrastructure Favourable Macro Climate Why we like it. Project qualifies for tax incentive that provides a 75% reduction to corporate income taxes ✓ 1.5% government royalty on gold production ✓ 6 Installation Licenses required for start of construction received in 2017, validated 2022 Stable and transparent framework to govern permit amendments Project will connect to Brazilian power grid, which is >80% powered by renewable energy Direct access via 108 km of all-weather roads starting from paved national highway No relocation or resettlement required on site No indigenous communities nearby that may be impacted by mining activity BRL has devalued significantly against USD, positively impacting operating costs (55% in BRL) and development capital (59% in BRL) TSXV:GMIN 20#21Recent Milestones and Upcoming Value Drivers Delivering on Catalysts October 2020: Formation of G Mining Ventures and concurrent C$43 million equity financing ท August 2021: Acquisition of TZ for $115 million ✓ ☑ September 2021: Closing of C$71 mm equity financing October 2021: Closing of TZ Acquisition November 2021: Buydown of TZ NSR royalty February 2022: Release of updated 43-101 Feasibility Study for TZ July 2022: Announce $481 million finance package Upcoming Value Drivers H2 2022: Construction decision Q3 2022: Results from grade control and exploration drilling totaling 10,000 m Q2 2022 Q3 2022: Early works activities to support infrastructure and allow for rapid start to construction Q1 2022 Q2 2023: Project optimization studies, detailed engineering and long lead orders H2 2024: Commercial production 21 months from formation of GMIN to becoming fully financed developer TSXV:GMIN 21#22Tocantinzinho Gold Project#23Feasibility Study Highlights After-Tax NPV 5% $622 million $1,600 per ounce Base Case Simple Operation | One Open Pit | Conventional 12,600 tpd Plant After-Tax IRR 24% $1,600 per ounce Base Case Development Capital $458 million To commercial production Payback Period 3.2 years From commercial production Total LOM Gold Production 1,834 koz Over a 10.5 year mine life Average Annual Gold Production 175 koz pa 196 koz pa over the first five full years Total Cash Costs (¹) $623/oz Margin of $977/oz (2) Exploration upside exists from district scale 996 km² land package (1) Total Site Costs + TCRC + Royalties. (2) Assumes Base Case gold price of $1,600/oz. (3) Total Operating Costs + Sustaining Capital Costs + Closure Costs AISC(3) $681/oz Bottom of the industry cost curve TSXV:GMIN 23#24NPV and IRR Sensitivity to Gold Price TZ After-Tax NPV 5% Each $100 per ounce change in the gold price represents a ~$105 million change in the NPV 5% TZ After-Tax IRR Each $100 per ounce change in the gold price represents a ~2.7% change in the IRR Base Spot Case Case $1,044 $939 $833 $727 $622 $516 $410 $304 Base Spot Case Case 34% 32% 29% 27% 24% 21% 19% 15% $1,300 $1,400 $1,500 $1,600 $1,700 Gold Price $1,800 $1,900 $2,000 $1,300 $1,400 $1,500 $1,600 $1,700 Gold Price $1,800 $1,900 $2,000 TSXV:GMIN 24#25Feasibility Study Overview Conservative Optimized First Five Life of Current Description Units Years Mine Production Data Conservative reserve estimate Pit design optimized for $1,400/oz gold Mine Life Years 10.5 Average Milling Throughput MMt/year 4.7 4.6 Strip Ratio waste: ore 4.2 3.4 • 5.5% mining dilution Ore Tonnage Milled Mt 23.5 48.3 Capital costs supported by: • • Q4-2021 budgetary quotes Firm pricing secured on major equipment amounting to 44% Labor costs supported by in-country labor surveys conducted in Q4-2021 Procurement strategy favors sourcing from in-country manufacturers to benefit from simplified logistics and to maximize local benefits Gold Head Grade Contained Gold Recovery Total Gold Production g/t 1.44 1.31 koz 1,086 2,036 % 90% 90% koz 981 1,834 Average Annual Gold Production koz 196 175 Operating Costs (Average LOM) Total Site Costs USD/oz $564 $565 Total Operating Costs / Cash Costs USD/oz $621 $623 AISC USD/oz $666 $681 Capital Costs Development Capital USD MM $458 Sustaining Capital USD MM $83 Financial Evaluation Gold Price Assumption USD/oz After-Tax NPV, 5% USD MM $1,600 $622 After-Tax IRR % 24% Payback Years 3.2 Note: Capital Costs shown inclusive of taxes payable. TSXV:GMIN 25#26Tocantinzinho Mineral Inventory - Robust mineral reserve totaling 2.0Moz Au at 1.31g/t Mineral reserves optimized for $1,400/oz gold price Additional conservativism added by applying 5.5% mining dilution 200 SE Excellent resource to reserve conversion (97%) Mineral resource estimate supported by 144 drillholes (~45km of drilling) completed between 2004-2010 NW Classification Proven Probable Total P&P Mineral Reserves Tonnes Grade Gold Contained Gold 000's g/t Au 000's oz Au 17,973 1.46 842 30,703 1.22 1,200 48,676 1.31 2,042 Notes CIM definitions were followed for mineral reserves. Mineral reserves are estimated for a gold price of $1,400/oz. Mineral reserve cut-off of grade of 0.36 g/t. A dilution skin width of 1 m was considered resulting in an average mining dilution of 5.5% Bulk density of ore is variable with an average of 2.67 t/m³. The average strip ratio is 3.36:1/Numbers may not add due to rounding. Effective date of the estimate is December 10, 2021. AU grade bins 0.5 100m 10.31 Long Section Looking South-West Mineral Resources Tonnes Grade Gold Contained Gold Classification 000's g/t Au 000's oz Au Measured 17,609 1.49 841 Indicated 30,505 1.29 1,261 Total M+I 48,114 1.36 2,102 Inferred 1,580 0.99 50 Note: Mineral resources are not mineral reserves and do not have demonstrated economic viability. All figures are rounded to reflect the relative accuracy of the estimates. Assays were capped where appropriate. Open pit mineral resources are reported at a cut-off grade of 0.30 g/t gold. The cut-off grades are based on a gold price of US$1,600 per troy ounce and metallurgical recoveries of 78% for gold in saprolite rock, 90% for gold in rock, and 82% for gold in tailings. Effective date of the estimate is December 10, 2021. TSXV:GMIN 26#27Gold Production and Cost Profile Average annual gold production of 174,700 per year at an AISC of $681 per ounce O First five full years of production average 196,174 per year an AISC of $666 per ounce 10.5 year mine life producing a total of 1.8 million gold ounces 250 Annual Production (koz Au) 200 203 150 100 93 50 Note: Year 1 represents 6 monhts of production. 163 206 233 175 137 180 209 $1,000 $800 163 $600 $400 70 $200 Year 1 Year 2 Year 3 Year 4 Year 5 Year 6 Year 7 Year 8 Year 9 Year 10 Year 11 Gold Recovered Total Cash Cost AISC Operating Cost (USD/oz) TSXV:GMIN 27#28Operating Cost Summary AISC of $681 per ounce - bottom of the industry cost curve Average LOM operating costs are estimated at $623 per ounce of gold produced, or $23.68 per tonne of ore milled Average LOM mining cost is $2.36 per tonne mined Operating Cost Summary Mining Total (USD MM) Unit Cost (USD/t milled) Cost per oz (USD/oz) Closure Costs Sustaining Capital 2% Transport & Refining $459 $9.51 $250 7% 1% Processing G&A $427 $8.83 $233 Royalties $151 $3.13 $82 7% Total Site Costs $1,037 $21.48 $565 Transport & Refining $18 $0.38 $10 Government Royalty $44 $0.91 $24 Mining 37% Private Royalty $44 $0.91 $24 G&A Total Operating Cost $1,143 $23.68 $623 12% Sustaining Capital $83 $1.72 $45 ClosureCosts $24 $0.49 $13 AISC $1,250 $25.88 $681 Total Unit Cost Processing 34% Mining Cost Summary (USD MM) (USD/t) Mining - per tonne mined $459 $2.36 TSXV:GMIN 28#29AISC (USD/oz Au) Operational Benchmarking TZ's Positioning on the 2021 Global AISC (1) Curve Largest Brazilian Primary Gold Mines $2,500 $2,000 $1,500 $1,000 $500 TZ LOM Average: $681 Mine Owner 2021 Production (koz Au) Spot Gold: $1,700 Paracatu Kinross 551 AngloGold AGA Mineração 331 Ashanti Tocantinzinho G Mining 196 Jacobina Yamana 186 Median: $1,014 Aurizona Equinox 135 AngloGold Serra Grande 83 Ashanti Tucano Great Panther 76 80% 100% 20% 60% 40% Cumulative Production (%) Source: S&P Market Intelligence, BMO Capital Markets, company disclosure.. (1) Based on Wood Mackenzie's Cash Cost plus Sustaining Capital data. TZ's average production over its first five years would rank as the 3rd largest primary gold mine in Brazil TSXV:GMIN 29#30Exploration Upside - Near-Deposit Significant intercepts outside the pit Mineralization extent ~900m in strike and ~300m width Significant intercepts near pit at depth and in the SE to follow up Underexplored near deposit ground O A total of 82,805m of drilling over 10-year period No new drilling since 2015 Deposit still open at depth Inaugural 10,000m drilling program launched in Q4-21 3,000m of diamond drilling targeting mineralization at depth down plunge to the northeast and southeast of the currently known mineralization TOC 09-131 35.2 m @ 1.10 g/t Au TOC 09-123 9.5 m @ 2.36 g/t Au TOC 09-139 77.1 m @ 2.03 g/t Au TOC 09-152 55.3 m @ 1.38 g/t Au TOC 09-124 43.7 m @ 1.12 g/t Au AU grade bins 1 0.5 0.3 TOC 09-127 17.8 m @ 1.11 g/t Au 100m Isometric View Looking NE TSXV:GMIN 30#31Exploration Upside - District Scale Potential Land package totaling 996 km² with less than 5% drill tested Time Meters Drill Drilling Objective Period Drilled Holes Resource Drilling and Resource Conversion 2004-2010 45,039 155 Exploration Drilling (Tenement-Wide) 2004-2015 34,492 159 Metallurgical Test work Drilling 2009 1,490 6 Geotechnical Drilling 2010 1,784 6 Totals 2004-2015 82,805 296 Large underexplored intrusive system along the along the Tocantinzinho trend Several known deposits near the area including: • Cuiu Cuiu (Cabral Gold Inc.) • Palito Mine (Serabi Gold plc.) Sao Jorge (GoldMining Inc.) PARÁ BRAZIL Trairão● Tocantinzinho.. Trend Tapajos River Ouro Roxo Jacareacanga Crepori River Anglo Jamanxim River taituba Cabral Cuiu Cuiu GMining TZ Creporizão 0 50 100km Nexa Gold Deposit (¹) Gold Occurrence Hydroelectric Dam Highway Railway Staked Towns Palito Mine Sao Chico Serabi “Sao Jorge Anglo Novo Progresso TSXV:GMIN 31#32ESG & Benchmarking#33A Leading ESG Strategy - Clear Priorities Environmental CO2 Emissions o 0.20 t CO2e/oz Au, lower than comparable open pit mines o Aided by TZ's connection to the Brazilian grid, with 80% of electricity generated by renewable sources L Water Management and Tailings 。 Water readily available from rainfall and nearby rivers, with expected net consumption of 200 m³/hr significantly less than licensed amount of 387 m³/hr o Tailings dams have been designed in compliance with Brazilian regulation, exceeding international standards Biodiversity ○ All required biodiversity surveys have been conducted to minimize effects of deforestation 。 Compensation has been paid for conservation unit disturbances and deforestation TZ's Scope 1 Emissions Compared to Similar Gold Mines in the Americas (t CO₂e / oz Au) Includes open pit mines with 2021A production of 100 - 300 koz Au and reported 2021A Scope 1 emissions 0.70 0.72 0.61 0.62 0.62 0.65 0.58 Average = 0.52 0.44 0.46 0.47 0.49 0.50 0.38 0.33 0.26 0.20 TZ LOM Average Hemco Aurizona Shahuindo CC&V Cerro Corona Mesquite Haile La Arena Round Mountain Rainy River Bald Mountain Los Filos Marigold Yanacocha Fort Knox Source: Company public filings and S&P Market Intelligence. Note: Average excludes G Mining. TSXV:GMIN 33#34A Leading ESG Strategy - Clear Priorities (cont'd) Social $60,000 has been contributed to date for community social programs Total project CSR budget of $3.5 million Franco-Nevada providing $1 million of funding to partner on social programs 600 permanent jobs during operations 1,200 jobs created during construction III Governance "Run-by-Owners" Mentality with Appropriate Safeguards 。 Gignac family, management & Board have invested significantly in the company and are aligned with shareholder interests Audit & Risk Committee comprised of Independent Directors Founding Policies 。 Since January 2021, G Mining has set out a list of policies that covers Environmental, Diversity, Whistleblowing and Health & Safety, among others Demonstrated Strong Governance Practices o Board ESG Committee ensures commitment to strong governance and a focus on environmental and social policies Plan to have 30% female and local representation in executive positions by 2024 Currently represent 25% of executive positions Source: OECD Each direct job in the Brazilian mining industry creates up to 13 ancillary jobs TSXV:GMIN 34#35Benchmarking Osisko Min. Artemis Marathon Americas Developers - P/NAV (x) In Construction Americas Producers - P/NAV (x) Wesdome 1.04x 0.47x Lundin Gold 0.76x 0.42x Orla 0.62x 0.37x (1) G Mining 0.35x Coeur 0.55x Sabina Gold 0.33x New Gold 0.53x Skeena 0.32x Victoria 0.50x Osisko Dev. 0.31x Torex 0.45x Ascot 0.30x Calibre 0.44x Belo Sun 0.28x Jaguar 0.43x Perpetua 0.28x Equinox 0.41x Liberty 0.23x Aura 0.33x Bluestone 0.12x Average 0.31x Argonaut 0.13x Average 0.52x Substantial re-rate potential exists as project advances towards production Source: FactSet and company public filings as of 06.30.22. Note: Averages exclude G Mining. (1) Shown pro forma financing package. TSXV:GMIN 35#36Benchmarking Americas Developers - EV/ Resources (USD/oz Au) Osisko Min. Skeena In Construction Americas Developers - EV/ Reserves (USD/oz Au) $105 Ascot Skeena Marathon $63 Artemis (1) G Mining $55 $49 Ascot $43 Marathon $41 Sabina Gold $32 Osisko Dev. $28 Bluestone $28 Perpetua $23 Liberty $21 Belo Sun $12 Average = $41 Source: FactSet and company public filings as of 06.30.22. Note: Averages exclude G Mining. (1) Shown pro forma financing package. $113 $105 $102 Artemis $82 Sabina Gold $82 G Mining (1) $52 Perpetua $34 Bluestone $31 Belo Sun $20 Liberty n.a. Osisko Min. n.a. Osisko Dev. n.a. Average = $71 Fully funded developers trade at a premium TSXV:GMIN 36#37Producers Garner Premium Multiples 1.20x G Mining has the potential for a significant re-rating as TZ advances towards production 1.00x 0.80x 0.60x 0.40x 0.20x Jul-17 Producer Index P / NAV Developer Index P/ NAV Producers have averaged a 54% P/NAV premium to developers over the past five years My м 0.52x 0.31x T T T Dec-17 Jun-18 Dec-18 Jun-19 Dec-19 Jun-20 Dec-20 Jun-21 Dec-21 Jun-22 Source: FactSet and street research. Note: Producer index includes Argonaut, Aura, Calibre, Coeur, Equinox, Jaguar, Lundin Gold, New Gold, Orla, Torex, Victoria and Wesdome. Developer index includes Artemis, Ascot, Belo Sun, Bluestone, Liberty, Marathon, Osisko Development, Osisko Mining, Perpetua, Sabina and Skeena.. TSXV:GMIN 37#38Scarcity of Quality Gold Development Companies Global development projects with a gold or silver resource estimate Primarily gold or silver projects Projects with an economic study released since 2015 280 3,555 2,731 Projects with average annual production over 150 koz Au 49 Projects with initial capex less than US$500 mm 29 Projects not owned by a producing company 13 Tocantinzinho Projects that are fully 3 financed for construction GMINING VENTURES Source: Company filings, S&P Market Intelligence. Back River Blackwater Sabina ARTEMIS GOLD INC TSXV:GMIN 38#39Investment Highlights The Right Gold Story for any Portfolio Mine Builders Four successful mine builds in South America Brazil High Quality Gold Asset in Brazil Reserves totaling 2.0 million ounces at 1.31 g/t 996 km² land package less than 5% drill tested "Run-by-Owners" Mentality Gignac Family, Management & Board own 14% (8% proforma financing) Over $17 million invested to date Strategic Partnerships G Mining Services Master Services Agreement La Mancha - 25.0% shareholder (2) Eldorado Gold - 17.8% shareholder Franco-Nevada - 9.9% shareholder ** High Quality, Robust Feasibility Study After Tax NPV 5% of $622 million and IRR of 24% (1) Avg. production of 175,000 pa at AISC of $681/oz Fully funded to construction decision $481 million comprehensive financing secured $81 million buffer inclusive of $43 cash buffer and $38 million of project contingency Existing cash and equivalents of $54 million (3) (1) After Tax figures using a $1,600 gold price and USD:BRL FX of 5.20. (2) Second tranche subject to GMIN shareholder approval. (3) Cash balance as at June 30, 2022 before equity proceeds. TSXV:GMIN 39#40Recent Milestones and Upcoming Value Drivers Delivering on Catalysts October 2020: Formation of G Mining Ventures and concurrent C$43 million equity financing ท August 2021: Acquisition of TZ for $115 million ✓ ☑ September 2021: Closing of C$71 mm equity financing October 2021: Closing of TZ Acquisition November 2021: Buydown of TZ NSR royalty February 2022: Release of updated 43-101 Feasibility Study for TZ July 2022: Announce $481 million finance package Upcoming Value Drivers H2 2022: Construction decision Q3 2022: Results from grade control and exploration drilling totaling 10,000 m Q2 2022 Q3 2022: Early works activities to support infrastructure and allow for rapid start to construction Q1 2022 Q2 2023: Project optimization studies, detailed engineering and long lead orders H2 2024: Commercial production 21 months from formation of GMIN to becoming fully financed developer TSXV:GMIN 40#41Contact Information Jessie Liu-Ernsting Director, Investor Relations & Communications [email protected] Montreal 7900 W. Tashereau Blvd., Building D, Suite 210, Brossard, Quebec, Canada, J4X 1C2 Toronto 100 King Street West, Suite 5700 Toronto, Ontario, Canada, M5X 1C7 TSXV:GMIN 41#42Appendix – Summary of Terms#43Franco Nevada $250 million Gold Stream O Franco-Nevada (Barbados) Corporation has acquired a gold stream on the TZ project over the life of mine under the following offer terms: Upfront deposit of $250 million (C$325 million) • 12.5% of gold produced from TZ over the life of mine, reducing to 7.5% after delivery of 300,000 ounces of gold • Reserve life currently delivers ~229,000 ounces of gold . Facility is assuming 3-5-year mine life extension using LOM average annual production Ongoing payments to GMIN of 20% of the spot gold price at time of delivery ESG Initiatives: Franco-Nevada is contributing $250,000 per year for four years for investment towards environmental initiatives and social projects in the communities surrounding TZ Full drawdown of the deposit subject to satisfaction of certain customary conditions . Not conditional on additional third-party equity investment TSXV:GMIN 43#44Franco Nevada - $75 million Senior Term Loan O GMIN has executed definitive documentation for a $75 million (C$98 million) Senior Term Loan from Franco-Nevada with the following terms: Term: 6.0 years Availability Period: Multi-draw facility available after the stream deposit is fully drawn, at GMIN's discretion for up to 3.5 years Standby fee on undrawn amounts of 1.0% per annum, which GMIN has the option of accruing and capitalizing for the first 2.0-year period Coupon: 3-Month Term SOFR(1) + 5.75% per annum pre-project completion, reducing to SOFR (1) + 4.75% after completion 2.0-year interest deferral period during which GMIN has the option of accruing and capitalizing interest Amortization: Principal, accrued interest, and accrued fees are repayable starting in December 2025 as follows: 10 equal quarterly payments equal to 7.5% of the balance outstanding; and Bullet payment equal to 25.0% Original Issue Discount: 2.0% applicable on amounts drawn Franco-Nevada will be granted 11.5 million warrants with a five-year term and an exercise price of C$1.90 per share • • Exercise price equals the exercise price of the existing warrants issued as part of GMIN's September 2021 financing Warrants will have a cashless exercise to enable Franco-Nevada to avoid its holdings from exceeding 9.9% of GMIN's common shares outstanding at time of exercise (1) Secured Overnight Financing Rate. TSXV:GMIN 44#45Strategic Equity Investment - $116 Million C$151.3 million ($116.4 million) in equity via a non-brokered private placement at C$0.80 per share Franco Nevada New Shares Issued (mm) Amount (US$ mm) Proforma Ownership $27.5 (C$35.8) 9.9% 44.7 $54.5 1st Close 88.6 (C$70.9) $14.3 la mancha 2nd Close (1) 23.3 25.0% (C$18.7) $68.8 Total 111.9 (C$89.5) $20.0 17.8% (C$26.0) > eldorado gold 32.5 • • Highlights Establish long-term partnership for future financings and acquisitions Align interest with shareholders Board representation (two Director nomination (2)) Long-term partnership for growth and consolidation Financial capacity to support organic and accretive inorganic growth Partial exercise of anti-dilution right and continue to support GMIN (1) Subject to GMIN shareholder approval. (2) One director after each close of La Mancha's investment in the $116 million equity financing package. TSXV:GMIN 45#46Appendix – G Mining Services Overview and Track Record Case Studies Past/Current Mandates#47G Mining Services Overview G Mining Services is a specialized mining engineering firm based in Canada G Services Mining Founded in 2006 by Louis Gignac Sr., 2016 Canadian Mining Hall of Fame inductee GMS brings a proven management team and organization with a strong track record of developing and optimizing projects globally G Mining Ventures entereted into an arm's length Master Service Agreement with G Mining Services Comprehensive In-House Expertise Few engineering firms cover all technical disciplines like GMS, including: Geology Open pit and underground mining Civil Electrical Automation Mechanical Logistics and supply chain Construction management Self-Perform Approach GMS performs all technical/ operational functions in house Direct purchase of equipment and materials, direct hiring of expatriates and local workforce GMS fully integrates project scope/ construction creating a model that is unique and efficient Typical EPCM engages contractors who then engage sub-contractors, increasing layers Proven Management Model Project teams that have worked together for many years which removes the risk of forming teams Lean management structure with low overhead costs of cost TSXV:GMIN 47#48GMS Historical Track Record GMS History of Excellence GMS has generated savings of $250MM on completed projects since 2008 with a combined construction cost of $2Bn. A Select GMS Experience LUNDINGOLD Fruta del Norte | Ecuador Re-engineering & Construction 2017-2021 Projects delivered on budget: 100% Projects delivered below budget: 50% Newmont. Merian Stage 1 | Suriname DFS & Project Optimization 2014-2018 IAMGOLD Essakane | Burkina Faso DFS, Engineering & Construction 2008-2010 Merian Stage 2 | Suriname Engineering & Construction 2014-2018 Total man hours employed: 20,319,110 Projects delivered on schedule or earlier: 100% AGNICO EAGLE Meliadine | Nunavut Process Plant Automation 2019 Sabajo | Suriname Mining Engineering Scoping Study 2019 TSXV:GMIN 48#49Self Perform Approach – Explained Aspect Project Team/ Responsibility Engineering Procurement Construction Management - - Self-Perform Approach Project owner hires GMS, brings key personnel on the payroll, and integrates the personnel with their internal project team, effectively combining to create an in-house team Project owner remains the project manager as GMS personnel become internal employees GMS assumes coordination of engineering and completes it in-house by adding the required GMS personnel to the in-house team as needed QA/QC performed by third parties Direct purchase of equipment and materials on a global scale Central management of supply chain with management of logistics to site GMS (acting as the project owner) executes construction of all aspects of project with exception of certain scope items awarded to local contractors Direct hiring of expatriate and local work force reduces mark-ups, GMS transfers key employees to construction team for duration of project Project team manages personnel, schedule and costs Project team manages services such as construction camp and employee transportation • EPCM Approach Project owner hires external engineering firm to be the project manager Project owner establishes internal project team to manage and oversee the EPCM firm EPCM firm performs engineering or outsources to third party engineering firms Some procurement management by EPCM firm Procurement is also done by contractors, depending on EPCM package Construction performed by contractors as per engineering approved drawings Each contractor has predefined scope where each contractor has its supervision and overheads External engineering firm establishes a small project team to manage external contractors Management of scope changes and extras TSXV:GMIN 49#50Case Study - Fruta del Norte LUNDINGOLD Lundin Gold retained GMS to build the Fruta del Norte Project located in Ecuador Start of Mandate - July 2016 Feasibility study update Engineering management Construction management Early works field activities Start of Commercial Production - February 2020 Approved Budget = $744 MM Actual Cost $684 MM = Cost Savings = $60 MM Time savings = 3 month LTIFR(1) = 0.13 Fruta del Norte Colombia Ecuador Peru (1) LTIFR = Lost Time Injury Frequency Rate per 200,000 hours. (2) Sourced from public disclosures.. Project delivered Under budget Project delivered ahead of schedule 2021 Guidance(2): Gold Production | 380,000 - 420,000 ounces AISCI $770-$830 per ounce TSXV:GMIN 50#51Case Study - Merian Newmont. Newmont retained GMS to build the Merian Project (Phase 1 and 2) located in Suriname. Start of Mandate - September 2014 Engineering management Project mining/engineering Supply chain and logistics Start of Commercial Production Construction management Project administration Project optimization Phase 1 - October 2016 Approved Budget = $915 MM Merian = Actual Cost $737 MM Cost Savings = $178 MM Time savings = 1 month LTIFR(1) = 0.02 Phase 2 - August 2018 Approved Budget = $82 MM Actual Cost = $70 MM Cost Savings = $12 MM Delivered on Time LTIFR(1) = 0.00 Guayana Brazil (1) LTIFR = Lost Time Injury Frequency Rate per 200,000 hours. (2) Sourced from public disclosures and shown on a consolidated production basis. Attributable production to Newmont is 75%. Project delivered under budget Project delivered 2021 Guidance(2): on schedule Gold Production | 425,000 ounces AISCI $855 per ounce TSXV:GMIN 51#52GMS Past/Current Mandates - LUNDINGOLD Fruta del Norte | Ecuador Re-Engineering, Construction & Expansion 2017-2021 Newmont. Merian Stage 1 & 2 | Suriname Feasibility Study, Engineering & Construction. 2014-2018 Newmont. Sabajo | Suriname Mining Engineering, Scoping Study 2019 IAMGOLD Essakane | Burkina Faso Phase 1 Feasibility Study, Engineering & Construction | 2008-2010 SILVERCREST Metals Inc. Las Chispas | Mexico Geology & Ming Eng., Feasibility Study 2020 HIGHLAND Copper Company Inc. Copperwood | Michigan Feasibility Study Lead 2018 AGNICO EAGLE Meliadine | Nunavut Process Plant Automation 2019 TACORA RESOURCES Scully | Newfoundland Geology & Mining Eng., Mine Restart Feasibility 2018 OSISKO MINING Canadian Malartic | Quebec Mine Engineering, Feasibility Study 2008 IAMGOLD Sadiola | Mali Mine Engineering & PFS Study Coordination: 2009 GREENSTONE GOLD MINES Hardrock | Ontario Feasibility Study, Engineering Lead 2016 MINERAI DE FER QUÉBEC QUEBEC IRON ORE Bloom Lake | Quebec Geology & Mining Eng., Mine Restart Feasibility 2017 TSXV:GMIN 52