Fort Capital Investment Banking Pitch Book

Appendix D: Precedent Transactions Ann. Date Mar-14-2021 Ma-10-2021 Deo-04-2020 Nov-02-2020 S-40-X0-2020 36-29-2000 Jun-09-2020 Sap-23-2019 Aug-2-2018 Doo- 27-2017. Nov-07-2017 Sap-05-2017 May-14-2017 May-12-2016 Now-12-2015 J-30-2015 Feb-17-2015 Jan-19-2015 Dec-17-2014 May-31-2013 Dec-13-2012 Now12-2012 Oct-15-2012 For 27-2012 Oct-17-2011 Sap-10-2011 Average Median Transaction Value (100%ba PASSA Target $250 Bame North $345 GT Gold $99 QMX Gold $120 Snowfold property $111 Monach Gole $134 Pack Gold Pred 397 Eman Resources $214 Backwater project 1231 Banente Gold Me $78 Northem Empire $325 Exploration Asses $215 AuRico Metais 380 Santa Cetrusis project $422 Intera Gold $154 Paramount Gold & Siver $290 Rainy River Resources $120 Cerro Resources $403 Queenston Mining 1281 Prodigy Gold $514 Trelawney Mining $115 Siver Quest Resources $261 Grand Resource 8214 Aoquiror $300 Kamik Gold $135 Spring Valley & Ruby Hill Waterton $455 Romarco Minoals $107 Newstke Capta 3411 Probe Mines Ocanad Timmins Gold Goldcomp Coaur Mining Now Gold Evolution Mining Newmont Bordo Gold Seabroop Gold Yamana Goe Kinross God Auryn Resources Atanis Gold Oslo Gold Royates Coaur Mining Jonido Eage Certerra Gold Agris Eage Boorado Gold Goldcorp Primaro Miring Ossio Miring Argonaut Gold UMGOLD New Gold Agrico Eade Location stage Ontario BC Qubec BC Quebec Naska Quebec BC Asset/ Corporate FFS Corporan Scoping Corporate Resource Corporate Resource Asset Faas Corporate PEA Aust PEA Corporate Foas Asset PEA Corporate Nevad Resource Corporate Ontario PEA Asset BC Feas Corporate Malco Autot Quebec PEA Corporate Yukon Feas Corporate Resource Asset Foas Corporate Malco PEA Corporate Ontario Resource Corporate Malco Ontario Marco S. Carolina PEA Corporate Foas Corporate Faal Corporate orporate Ontario PEA Corporate Ontario Ontario BC Malco Resource Corporate Resource Corporate FEA Corporate PINAV 0.68x $1.537 na 0.87x Total Acq Cost (TAC) na $1,034 NA 5861 1901 $1,006 $1,100 nia nia 3679 63.5% 5440 34.5% 50.6% 82.9% 0.84x 0.62x 1.06x 1.04x nia 0.81x 0.83x 1.46x 081x 0.75x 0.73x na nis 0.95 0.70x 0.78x $1.019 na $1,168 Na $1,073 $828 na $1,420 3778 ris $944 TAC% of Spot 2 1962 54.7% 45.6% 46.1% 61.3% 71.8% na 98.6% 68.3% 97.6% 65 nia 52.8% 06556 66.2% Au Resource M&I KUN 1.025 3.471 382 25.917 2.588 1.200 1.000 9.510 Resource jur Ad 4,039 1.859 3.926 1,123 6,167 1,128 2.058 6,251 860 939 760 1,80 2.261 501 34,945 1,325 1,729 709 6,800 10,10 5,008 5.925 1,004 #10 1.917 3.590 2.000 10.373 4.540 1,827 8,447 1,129 6.300 1.000 1,296 6,380 3.902 1.025 Au Eq Resource EVI MBI Recource %6.Au MAI (NI 382 34.260 2.588 1.310 1,006 10.300 7,030 13.625 810 1.917 2.008 4.039 1.955 3.926 2,155 6.383 1.837 6,251 860 1,503 760 4,002 2,307 Gold Equivalent [VI EVI Recouron (Any) DY BUNDY $252.7 $100.3 $189.3 $17.0 $167.9 1.369 100% LEG 501 100% 46.879 731 2.882 100% 1,442 92% 1,740 99% 10.608 4.365 100% 709 100% 13.006 494 1,004 100% 3.593 100% 5,100 100 10.373 100% 4,040 100% 2.033 99% 3,367 8.777 1.837 4,079 99% 6.606 100% 6.355 100% Gold Only 1.266 100% 6,709 2016 4,079 100% Source: CapitaliQ Market Intelligence and Company Disclosures We included transactions as per the following criteria: pre-production stage, gold primary asset (35%+ AuEq) located in the North Corvus America, with transaction value (100% basis) greater than US$75M transaction size foran ownership stake >/-50% (1) R&R figures are ona 100% acquired basis $4.6 $110.8 188.8 $22.5 147.2 $42.9 $98.8 $220.3 $124.4 $16.2 $112.0 $57.6 $104.7 $137.0 $106.6 $195.9 $449 $342.9 $102.6 EVI Resource $189.3 $167.9 33.4 $38.7 $101.1 $55.9 $21.7 $55.6 $94.3 $200.5 $3.5 $109.7 $31.9 $20.2 $36.2 $752 308.2 $117.6 $220.3 $71.3 $124.4 $13.0 $16.2 $112.6 $94.0 $102.2 $88.2 $20.6 $94.5 $205.9 877.7 $728 $54.8 $104.7 $714 $45.5 $65.5 $106.6 $103.3 $18 $42.5 $80.8 3449 $506.9 55 $342.9 $120.6 181.2 $2.6 $38.7 $92.8 $20.2 $52.9 $109.7 $31.2 $16.4 $75.2 $117.6 $13.0 $52.7 $94.3 $65.5 $80.8 $205.9 8713 $66.8 Fort Capital

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