#1JAPAN GOLD CORP. Corporate Presentation February 28, 2022 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 Rationale First mover advantage in Japan 31 Gold Projects covering over 40 historic gold mines Country-wide Strategic Alliance with Barrick Gold Corp. covering 29 of the Gold Projectss Significant Institutional & Industry Shareholders 34 TSXV: JG | OTCQB: JGLDF Management team with proven track record of identifying mineral deposits and advancing them to production JAPAN GOLD CORP. 3#42021 Highlights • Barrick Alliance geochemical sampling and geophysical surveys completed at most Projects. Over 40 significant gold anomalies identified. Barrick Alliance 3-day November workshop, held in Vancouver with 18 participants from 7 countries, focussed on refining areas of interest. 11 diamond drill holes completed at the Ryuo prospect, located within the independent Ikutahara Project in northeast Hokkaido. High gold grade highlights: . • 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 Portfolio expanded by 228 sq km with acceptance by the Japanese Ministry of Economy, Trade and Industry ("METI") of 77 new prospecting rights applications. $17 million upsized and oversubscribed private placement closed in July 2021 priced at $0.35 per share. Refreshed Board and additions to Advisors and Management. TSXV: JG | OTCQB: JGLDF JAPAN GOLD CORP.#5• • . • 31 Exploration Projects Portfolio expanded to 2,383 sq km 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 located in the 31 projects The Barrick Alliance includes 29 of the 31 projects Barrick provides management support via the Barrick Alliance Executive 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 on these 2 projects and provides technical support through a Japan Gold/Newmont Technical Committee JAPAN GOLD CORR JAPAN GOLD CORP. Japan Gold/Barrick Alliance Excluded From Alliance Hakuryu (4,901 ha) Sanru (41,394 ha) Aibetsu (7,035 ha) Tenryu (1,267 ha) Buho (4,707 ha) Hokkaido Numanoue (1,296 ha) Ikutahara (20,513 ha) Kanehana (17,438 ha) Onne (2,998 ha) Fujimi (2,201 ha) Harutomi (1,672 ha) Minamikayabe (638 ha) Kamitsue (4,069 ha) Tobaru-Fuke (10,935 ha) (1,838 ha) Usa Isa (5,964 ha) Gumyo (10,774 ha) Bajo (4,478 ha) Honshu Ohra-Takamine (3,705 ha) Kowa (389 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) Togi (18,467 ha) Onoyama (2,784 ha) Onoyama-Yamagano (12,049 ha) Mizobe-Onoyama 0 250 (5,126 ha) 500 km Kushikino-Iriki (11,163 ha) Kyushu N TSXV: JG | OTCQB: JGLDF 5#6Barrick Gold Corp. Strategic Alliance (commenced February 23, 2020) Exclusive relationship for Japan: the Barrick Alliance covers the entire country and 29 out of 31 projects currently held by Japan Gold. The area of the portfolio has increased 42% since the formation of the Barrick Alliance. 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: TSXV: JG | OTCQB: JGLDF Geochem: complete Geophysics: complete Barrick is sole funding an Initial Evaluation Phase of each project (extended until August 31, 2022). 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 JAPAN GOLD CORP. 6#7• • Barrick Alliance Initial Evaluation Phase Extended to August 31, 2022 Barrick has spent US$5.6 million on the Initial Evaluation Phase up to December 31, 2021. JAPAN GOLD CORP. Geochemical sampling and geophysical surveys have identified over 40 significant gold anomalies of high interest. Barrick Alliance project portfolio area has increased 42% since formation. . • The Barrick Alliance has defined a series of Areas of Interest from the regional programs and is further refining AOls and ranking anomalies within the AOIs to guide ongoing work programs. The Initial Evaluation Phase has been extended to August 31, 2022 to enable the Barrick Alliance to review and evaluate all data collected across the portfolio and advance the most prospective areas to the Second Evaluation Phase. "The Barrick Alliance team has run an exceptional field campaign across the majority of the principal hydrothermal districts in Japan over the last two years. Our aim has been to evaluate and screen the full potential of these areas before becoming too focused on specific targets, so it is very rewarding to see the work defining some exciting target areas for the next phase of more detailed work. The time extension will enable us to receive all the data collected across the portfolio and our focus will then be on progressing the most prospective areas through the Second Evaluation Phase.' Joel Holliday, Barrick EVP Exploration دو TSXV: JG | OTCQB: JGLDF 7#8Japan Gold Independent Projects • • Two projects are held outside of the Barrick Alliance: one in Hokkaido and one in Kyushu 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 JAPAN GOLD www JAPAN GOLD CORP. 8#92022 Planned Work Programs Independent Projects - Drill focused IKUTAHARA PROJECT - Multiple Prospects Ryuo prospect: • 11 diamond drill holes completed. 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 8 additional drill holes planned commencing in March Saroma Valley prospect: drilling scheduled H1 2022 Kitano-o East prospect: drilling scheduled H2 2022 New geochemical sampling programs and geophysical surveys are planned to support ongoing drill programs and drill targeting OHRA-TAKAMINE PROJECT Multiple drill pads and holes approved with drill permits Infill CSAMT surveying, magnetic surveys and additional soil sampling will assist in the identification of drill targets Further drill programs being planned JAPAN GOLD CORP. TSXV: JG | OTCQB: JGLDF 9#10Ikutahara Project JAPAN GOLD Ryuo Prospect North Kitano-o Prospects TSXV: JG | OTCQB: JGLDF 父 ㄉㄨˋ West Kitano-o Kitano-o Gold Prospect IKUTAHARA PROJECT SIMPLIFIED GEOLOGY AND PROSPECTING APPLICATION STATUS Ikutahara Prospecting Rights Ikutahara Prospecting Rights Applications Kitano-o Gold District Quaternary Sediment Volcaniclastics Rhyolite Basement Complex Mine/Working Saroma Valley Prospect Fault River 父 ㄨ ㄨ N Hokkaido East Kitano-o 10 Km JAPAN GOLD CORP. 10#11Ikutahara Project Ryuo Prospect - Significant Drill Intercepts JAPAN GOLD CORP. 79.40 Au 0.8/Ag 2.6 79.55 Au 1.8/Ag 4.2 79.75 Au 9.5/Ag 9.9 80.00 80.00 Drill Hole IKDD21-001 From (m) To (m) Length (m) Au (g/t) Ag (g/t) Au 2.0/Ag 3.3 80.30 Au 0.1/Ag 1.1 Au 0.6/Ag 5.4 Au 1.9/Ag:4.8 18150 60.60 65.50 4.90 12.1 33.0 80.85 Au 0.7/Ag 4.4 81.05 Au 3.5/Ag 3.8 81.20 Au 9.3/Ag 8.6 81.35 Au 0.3/Ag 2.6 Incl. 63.90 64.45 0.55 59.4 49.5 81.80 Au 1.3/Ag 2.9 81.95 Au 4.6/Ag 5.7 Au 4.4/Ag 7.0 82.55 82.35 IKDD21-003 81.20 83.32 2.12 6.32 12.6 Au 1.9/Ag 6.7 82.70 Au 0.3/Ag 2.0 82.85 Au 36.1/Ag 25.6 83.15 Au 140.0/Ag 97.5 Incl. 81.95 82.25 0.30 14.75 27.8 83.50 Au 0.3/Aq 1.2| 83.65 Au 0.1/Ag 1.2 83.90 Au 14.8/Ag 11.9 84.10 Au 3.2/Ag 4.5 84.20m IKDD21-004 42.55 42.75 0.20 2.8 14.4 84.25 Au 8.5/Ag 7.6 84.40 Au 0.2/Ag 2.9 84.60 Au 15.4/Ag 18.4 And 88.50 88.80 0.30 1.2 23.9 Au 0.7/Ag 3.6 85.20 Au 0.05/Ag 2.0 Au 0.1/Ag 0.7 85.35 Au 0.5/Ag 3.0 85.80 IKDD21-005 140.40 140.70 0.30 1.4 4.9 Au 0.1/Ag 4.4 Au 2.3/Ag 28.7 Au 2.0/Ag 293.0 86.35 85.55 Au 0.6/Ag 6.8 86.70 And 176.05 176.35 0.30 1.2 2.1 Au 0.8/Ag 9.5 87.10 Au 4.6/Ag 10.3 87.40 Au 0.4/Ag 1.6 87.65 IKDD21-006 72.15 72.35 0.2 5.0 36.9 Au 0.8/Ag 5.1 87.90 Au 37.2/Ag 360.0 Au 1.1/Ag 18.2 88.25 Au 4.7/Ag 31.2 88.45 Au 0.2/Ag 2.7 88.05 88.55m IKDD21-007 233.30 234.30 1.00 30.0 284.0 IKDD21-008 254.15 254.60 0.45 1,395.0 768.0 Au 0.2/Ag 4.1 88.60 88.80 Au 0.1/Ag 0.7 89.00 Au 2.1/Ag 10.9 89.20 Au 0.2/Ag 2.5 IKDD21-009 360.40 364.00 3.60 3.0 22.3 Au 0.05/Ag 0.7 89.70 Au 2.7/Ag 7.8 Au 1.2/Ag 3.2 90.40 IKDD21-010 74.05 94.05 20.0 6.3 15.7 Au 2.7/Ag 6.8 Au 14.1/Ag 48.4 90.65 90.90 Au 8.3/Ag 7.2 91.20 Au 10.1/Ag 11.5 91.40 Incl. 82.85 83.50 0.65 92.0 64.3 Incl. 83.15 83.50 0.35 140.0 97.5 IKDD21-011 127.50 128.20 0.70 1.7 1.4 IKDD21-010 Jinja vein zone with mineralized sample intervals and assay values in g/t for gold (Au) and silver (Ag) (79.40 94.95 m). Au 3.2/Ag 9.2 Au 9.4/ Ag 17.0 91.80 91.55 Au 0.4/Ag 2.9 92.05 Au 0.02/Ag 0.4 92.25 Au 2.2/Ag 4.2 92.50 Au 1.6/Ag 7.0 92.70 Au 0.1/Ag 1.3 92.95 Au 0.1/Ag 0.7 93.10 93.20m Au 0.2/Ag 1.2 93.45 Au 30.5/Ag 40.9 93.65 Au 0.4/Ag 2.0 93.90 Au 2.3/Ag 7.8 94.05 Au 0.1/Ag 1.7 94.30 Au 0.8/Ag 3.1 94.50 Au 0.1/Ag 1.2 94.80 Au 0.8/Ag 3.4 94.95 TSXV: JG | OTCQB: JGLDF 11#12TSXV: JG | OTCQB: JGLDF Ikutahara Project Ryuo Prospect • Ryuo Prospect, alteration map with significant drill intersections to date. Legend Drill hole collar Historic mine/ workings Historic mine dumps Au (g/t) in Rock Chip Float Outcrop ▼ Quartz vein outcrop Access road Drainage Silicified hydrothermal breccia outcrop / float Argillised rhyolitic volcaniclastic rock 0.1-0.5 0.5-2.0 2.0-5.0 B 0.1 0.5 0.5-2.0 2.0-5.0 Silicified rhyolitic volcaniclastic rock > 5.0 > 5.0 4872500 4873000 N 700000 0 200 Meters 400 Ryuo Prospect Alteration & Drill Hole Compilation JAPAN GOLD JAPAN GOLD CORP. IKDD21-010 20.00 m @ 6.3 g/t Au & 15.7 g/t Ag from 74.05 m IKDD21-001 4.9 m @ 12.1 g/t Au & 33.0 g/t Ag from 60.6 m Jinja IKDD21-010 IKDD21-006 0.2 m @ 5.0 g/t Au & 36.9 g/t Ag from 72.15 m IKDD21-005 0.3 m @ 1.4 g/t Au & 4.9 g/t Ag from 140.40 m 0.3 m @ 1.2 g/t Au & 2.1 g/t Ag from 176.05 m Alteration Corridor Ryuei IKDD21-008 IKDD21-003 IKDD21-007 IKDD21-006 Taisei IKDD21-005 IKDD21-004 0.2 m @ 2.8 g/t Au & 14.4 g/t Ag from 42.55 m KDD21-004 IKDD21-001 ITIO IKDD21-011 Shouei IKDD21-002 IKDD21-009 IKDD21-009 3.60 m @ 3.0 g/t Au & 22.3 g/t Ag from 360.40 m IKDD21-008 0.45 m @ 1,395 g/t Au & 768.0 g/t Ag from 254.15 m IKDD21-003 2.12 m @ 6.3 g/t Au & 12.6 g/t Ag from 81.2 m Buryu IKDD21-007 1.00 m @ 30.0 g/t Au & 284.0 g/t Ag from 233.30 m 1.30 m @ 3.7 g/t Au & 2.3 g/t Ag from 272.60 m 1.35 m @ 2.7 g/t Au & 4.1 g/t Ag from 330.00 m 4872500 4873000 4873500 12#13• Ikutahara Project Ryuo Prospect Jinja Vein workings long-section with composited back sample intervals from historical sampling data, and significant drill intersections to date. TSXV: JG | OTCQB: JGLDF Drill Results SW Surface profile (A) + Ryuo Prospect Jinja Vein Workings Long Section Long Section of Underground Development Showing Highlights of Gold-Silver Grade Distribution from Historic Channel Sampling 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 22.5 m Av Grade 9.3 g/t Au & 98 g/t Ag (0.3 m) Incl. channel samples 0.4 m @ 22.8 g/t Au & 291 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 & 1,607 g/t Ag 0.4 [email protected] g/t Au & 1,260 g/t Ag 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 m @ 86.6 g/t Au & 455 g/t Ag 2.0 m @29.2 g/t Au & 667 g/t Ag 250 m Level 3 Level 4 200 m Level 5 NE (B) Sub-level 5a Sub-level 5b Level 6 7.8 m Av Grade 8.3 g/t Au & 51 g/t Ag (0.1 m) 0.20 m @ 2.8 g/t Au and 14.4 g/t Ag from 42.55 m (and 0.3 m @ 1.2 g/t Au & 23.9 g/t Ag from 88.5 m) Pierce point IKDD21-001 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 4.9 m @ 12.1 g/t Au & 33.0 g/t Ag from 60.6 m (incl. 1.95 m @ 20.5 g/t Au & 21.0 g/t Ag from 63.55 m) (incl. 0.55 m @ 59.4 g/t Au & 49.5 g/t Ag from 63.9 m) (incl. 0.25 m @ 125.0 g/t Au & 97.0 g/t Ag from 64.2 m) Pierce point IKDD21-006 Pierce point IKDD21-004 20.00 m @ 6.3 g/t Au & 15.7 g/t Ag from 74.05 m (incl. 5.10 m @ 15.2 g/t Au & 13.1 g/t Ag from 79.75 m) (incl. 2.00 m @ 34.3 g/t Au & 25.8 g/t Ag from 82.85 m) (incl. 0.65 m @92.0 g/t Au & 64.3 g/t Ag from 82.85 m) (incl. 0.35 m @ 140.0 g/t Au & 97.5 g/t Ag from 83.15 m) (and 1.15 m @ 9.4 g/t Au & 19.3 g/t Ag from 90.65 m) Pierce point IKDD21-010 0.3 m @ 4.9 g/t Au & 36.9 g/t Ag from 72.15 m NOTES: 1. Coloured boxes represent the distribution of Au-Ag ranges of historical face chip-channel samples collected along mine levels 3, 4, 5, 5a, 5b, & 6. 2. Chip-Channel samples were collected at intervals spaced between 0.3 and 4.7 m along the strike of the vein. 3. Average Au and Ag grades were calculated from width weighted-average of across vein chip-channel samples within the interval. The average width of the vein along the mine level is given in brackets. 4. Data compiled from: Metal Mining Agency of Japan, March 1990, Geol. Survey Report for Fiscal Year 1989, Northern Hokkaido Area B - Metalliferous Deposits Overview 0 Gold Grade Ranges 50 m No reported assays <1.0 g/t Au 1.0-4.0 g/t Au 4.0-10.0 g/t Au >10.0 g/t Au JAPAN GOLD CORP. Drill Results 13#14Ikutahara Project Ryuo Prospect Interpreted cross-section through the Jinja and Shouei vein zones (IKDD21-001, 009, & 010). 0 100 200 meters 300m IKDD21-001 4.9 m @ 12.1 g/t Au & 33.0 g/t Ag from 60.6 m (incl. 0.55 m @ 59.4 g/t Au & 49.5 g/t Ag from 63.9 m) (incl. 0.25 m @ 125.0 g/t Au & 97.0 g/t Ag from 64.2 m) TSXV: JG | OTCQB: JGLDF Om 100m 200m 150 IKDD21-001 700400mE IKDD21-010 Au_ppm Ag ppm -200 Au pom 20 20 Au ppm 0 0 20 20 Ag ppm 200.0m 228.3m 00 20 IKDD21-010 20.00 m @ 6.3 g/t Au & 15.7 g/t Ag from 74.05 m (incl. 5.10 m @ 15.2 g/t Au & 13.1 g/t Ag from 79.75 m) (incl. 2.00 m @ 34.3 g/t Au & 25.8 g/t Ag from 82.85 m) (incl. 0.65 m @92.0 g/t Au & 64.3 g/t Ag from 82.85 m) (incl. 0.35 m @ 140.0 g/t Au & 97.5 g/t Ag from 83.15 m) (and 1.15 m @ 9.4 g/t Au & 19.3 g/t Ag from 90.65 m) 4863880 4873400mN 4873400mN 00 421.5m Ag ppm 20 700500mE 200 4873300mN 700600mE -150 -100 IKDD21-009 700700mE 4873200mN JAPAN GOLD come 100m 250 IKDD21-009 3.60 m @ 3.0 g/t Au & 22.3 g/t Ag from 360.40 m (incl. 1.10 m @ 4.9 g/t Au & 18.1 g/t Ag from 360.40 m) am (and 0.5 m @ 5.2 g/t A & 25.3 g/t Ag from 363.00 m) Au (ppm) Ag (ppm) LEGEND > 5 2-5 > 100 50-100 1-2 25-50 0.5-1 10-25 0.2-0.5 5-10 < 0.2 < 5 Quartz vein/stockwork zone Rhyolite dome complex Lake sediments (siltstone and conglomerate) 200m 300m JAPAN GOLD CORP. 14#15• Ikutahara Project Ryuo Prospect Interpreted cross section through the Ryuei vein zone (IKDD21-003 & 008). TSXV: JG | OTCQB: JGLDF 400m 300m 200m 100m Om -100m -200m 4873200mN IKDD21-003 2.12 m @ 6.3 g/t Au & 12.6 g/t Ag from 81.2 m (incl. 0.3 m @ 14.8 g/t Au & 27.8 g/t Ag from 81.95 m) Au ppm 20 00 20 350.0m -300 200 Ag ppm Au ppm Ag ppm 20 0 0 20 339.0m 4872900mN IKDD21-003 IKDD21-008 IKDD21-008 0.45 m @ 1,395 g/t Au & 768.0 g/t Ag from 254.15 m | Potential Boiling Zone developed at depth JAPAN GOLD JAPAN GOLD 400m CORP. 300m 200m 100m -100m -200m Quartz vein/stockwork zone Hydrothermal/eruption breccia Rhyolite dome complex Lake deposits (siltstone and conglomerate) Au (ppm) Ag (ppm) LEGEND > 5 > 100 2-5 50-100 1-2 25-50 0 100 200 0.5-1 10-25 0.2-0.5 5-10 meters < 0.2 < 5 15#16• Ikutahara Project Ryuo Prospect Interpreted cross section through the Buryu vein zone (IKDD21-007). TSXV: JG | OTCQB: JGLDF 400m IKDD21-007 1.00 m @ 30.0 g/t Au & 284.0 g/t Ag from 233.30 m 1.30 m @ 3.7 g/t Au & 2.3 g/t Ag from 272.60 m 1.35 m @ 2.7 g/t Au & 4.1 g/t Ag from 330.00 m 200m 100m -100m -200m Au_ppm 20 500 Ag ppm 00 508.7m 20 Au (ppm) Ag (ppm) > 5 > 100 2-5 50 100 1-2 25-50 0 100 200 meters 0.5-1 0.2-0.5 <0.2 10-25 5-10 < 5 IKDD21-007 JAPAN GOLD JAPAN GOLD 400m 300m 200m 100m Om Potential Boiling Zone developed at depth LEGEND -100m -200m Quartz vein/stockwork zone Hydrothermal/eruption breccia Lake deposits (siltstone and conglomerate) CORP. 16#17Share Structure Japan Gold Shareholders TSXV: JG | OTCQB: JGLDF Newmont Corporation 28% Public Float Shares Management 7% 10% 55% Institutional Investors Options Warrants Fully Diluted 32,425,679 279,096,158 224,890,479 21,780,000 $17 Million Institution led financing closed July 2021. JAPAN GOLD CORP. 17#18Experienced Leadership Team Board of Directors JAPAN GOLD CORP. OUCER John Proust C.Dir. Chairman & CEO Mr. Proust has successfully founded and managed numerous public and private resource companies. He has served on various board of directors and held senior operating positions leading corporate strategy, debt and equity financing, strategic alliances, mergers and acquisitions and corporate restructuring. lan Burney BA, MA (Int'l Relations) Independent Director Mr. Burney was the Ambassador of Canada to Japan from 2016 to 2021. Mr. Burney is an accomplished, high- performing public service executive and diplomat with over 30 years of experience in international affairs, particularly in the area of global economic issues. Michael Carrick B.Com; B.Acc; CA (SA); ACA Independent Director Mr. Carrick is currently Chairman of RTG Mining Inc. since 2013 and has been responsible for the development of seven major gold mines in five countries around the world including the development of the largest gold mine in the Philippines. That mine was merged with B2 Gold of Canada in a US$4.5 billion merger. Mr. Carrick is a Chartered Accountant with over 30 years of experience in the resources sector. Mitsuhiko Yamada BA (Int'l Economics) Director 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. Paul Harbidge BSc, MSc Independent Director A geologist with over 26 years of experience and a proven track record in the discovery of world class gold deposits. Paul is currently the CEO of CopperBank Resources Corp. Previously he was the President & CEO of GT Gold until its acquisition by Newmont Corp. He served as Senior Vice President of Exploration at Goldcorp from 2016 until its acquisition by Newmont Mining in April 2019 and prior to that he successfully led the Exploration Team at Randgold Resources. Tanneke Heersche BSc, BA, LLP Independent Director Ms. Heersche is a partner in the Global Mining Group at Fasken Martineau DuMoulin LLP and is the head of the firm-wide ESG Steering Committee. Ms. Heersche is a highly regarded expert and strategic advisor in the natural resources industry with over 25 years of international industry experience. Murray Flanigan CPA, CA, CFA Independent Director 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 18#19Experienced Leadership Team Executive Team John Proust, Chairman & CEO Mitsuhiko Yamada, Representing Director of Japan Gold KK (Japan Gold Corp. Operating Subsidiary in Japan) JAPAN GOLD CORP. 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. Yoshio Nojima, LLB, MBA General Manager, Business Administration Mr. Nojima worked for Sumitomo Corporation for 40 years specializing in mineral resources and investment. He has worked in Tokyo, London, Singapore, Hong Kong, and Latin America; where he managed mining subsidiary companies in Bolivia, Colombia, and Ecuador. In the Tokyo Head Office of Sumitomo Corporation, Mr. Nojima was General Manager responsible for investing in private equity globally. 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, Chief Engineer Vince Boon, CPA, CA Chief Financial Officer Dr. Tim Sharp, BSc, MSc, PhD Chief Geologist PhD 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. 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. A geologist with over 28 years of experience in Australasia and Africa with a track record of discovery and development of significant gold deposits. He was most recently Principal Geologist for Barrick Gold Exploration Africa Middle East Group and has held technical and management roles with Acacia Mining, Vale and Inco, and holds a BSc (Hons), MSc (Geology) and PhD (Geology) from the University of Technology Sydney, Australia. TSXV: JG | OTCQB: JGLDF 19#20Experienced Leadership Team Board of Advisors JAPAN GOLD CORP. P. Dr. Steve Garwin, BSc, MSc, PhD, FAusIMM, FAIG, FSEG Advisor Toru Tokuhisa BA Advisor Dr. Mike Andrews PhD, FAusIMM Advisor John Carlile BSc, MSc, FAusIMM Advisor Robert Gallagher BApSc 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). - Mr. Tokuhisa worked with the Japan Bank for International Cooperation (JBIC former Export-Import Bank of Japan) for 30 years and provided various types of financing to overseas projects including project financing to various mining and oil/gas development projects, one of which was the US$1 billion limited recourse finance for the development of the Batu Hijau Copper-Gold Project in Indonesia sponsored by Newmont and Sumitomo Corporation. After leaving JBIC as Resident Executive Director for the Americas in 2006, he became involved and led the financing and M&A activities in various mining projects in which Sumitomo Corporation participated for fifteen years. 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. 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. TSXV: JG | OTCQB: JGLDF 20 20#21Advancing Gold Exploration in Japan • STRENGTHS First mover advantage to secure the most prospective project areas in Japan 31 gold projects currently held throughout Japan, portfolio continuing to expand JAPAN GOLD CORP. • • • 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 to complete 2022 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 • Drilling division with 4 compact diamond core drill rigs and 20 expert expat drillers operating in Japan • Flexible cost structure due to a mix of employees and consultants TSXV: JG | OTCQB: JGLDF 21#22Chairman & 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