Investor Presentaiton

Producers 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

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