Investor Presentaiton

Benchmarking 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

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