powerpoint presentation · see disclaimer page for notes and forward-looking statements lupita...

20
PG:TSX www.premiergoldmines.com Corporate Presentation March 2020

Upload: others

Post on 04-Apr-2020

0 views

Category:

Documents


0 download

TRANSCRIPT

Page 1: PowerPoint Presentation · See Disclaimer page for notes and forward-looking statements Lupita –Diluvio Development Program Exploration Potential •Results continue to suggest

PG:TSXwww.premiergoldmines.com

Corporate Presentation

March 2020

Page 2: PowerPoint Presentation · See Disclaimer page for notes and forward-looking statements Lupita –Diluvio Development Program Exploration Potential •Results continue to suggest

Disclaimer

This Presentation contains certain information that may constitute "forward-looking information" under applicable Canadian securities legislation. Forward-looking information includes, but is not limited to, statements regarding theCompany’s achievement of the full-year projections for ounce production, production costs, AISC costs per ounce, cash cost per ounce and realized gold/silver price per ounce, the Company’s ability to meet annual operations estimates, andstatements about strategic plans, including future operations, future work programs, capital expenditures, discovery and production of minerals, price of gold and currency exchange rates, timing of geological reports and corporate andtechnical objectives. Forward-looking information is necessarily based upon a number of assumptions that, while considered reasonable, are subject to estimation of mineral resources and mineral reserves, realization of mineral resources,known and unknown risks, uncertainties, and other factors which may cause the actual results and future events to differ materially from those expressed or implied by such forward-looking information, including the risks inherent to themining industry, adverse economic and market developments and the risks identified in Premier's annual information form under the heading "Risk Factors". There can be no assurance that such information will prove to be accurate, asactual results and future events could differ materially from those anticipated in such information. Accordingly, readers should not place undue reliance on forward-looking information. All forward-looking information contained in thisPresentation is given as of the date hereof and is based upon the opinions and estimates of management and information available to management as at the date hereof. Premier disclaims any intention or obligation to update or revise anyforward-looking information, whether as a result of new information, future events or otherwise, except as required by law.

This Presentation has been completed by Premier. Certain corporate projects referred to herein are subject to agreements with third parties who have not prepared, reviewed or approved this Presentation. The Presentation is not intendedto reflect the actual plans or exploration and development programs contemplated for such projects.

Investors are reminded that this Presentation should be read in conjunction with Premier’s most recent Financial Statements and Management’s Discussion and Analysis, available on www.sedar.com and www.premiergoldmines.com.

Foreign Exchange Assumptions

All amounts discussed herein are denominated in U.S. dollars unless otherwise specified.

Non-IFRS Measures

The Company has included certain terms or performance measures commonly used in the mining industry that are not defined under International Financial Reporting Standards (“IFRS”) in this document. These include: earnings beforeinterest, tax, depreciation and amortization (EBITDA), free cash flow, cash cost per ounce sold, all in sustaining cost (“AISC”) per ounce sold and average realized price per ounce. Non-IFRS measures do not have any standardized meaningprescribed under IFRS, and therefore, they may not be comparable to similar measures employed by other companies. The data presented is intended to provide additional information and should not be considered in isolation or as asubstitute for measures prepared in accordance with IFRS and should be read in conjunction with the Company's consolidated financial statements. Readers should refer to the Company’s Management’s Discussion and Analysis under theheading “Non-IFRS Measures” for a more detailed discussion of how such measures are calculated.

Cautionary Notes to Investors - Reserve and Resource Estimates

In accordance with applicable Canadian securities regulatory requirements, all mineral reserve and mineral resource estimates of the Company disclosed in this Presentation have been prepared in accordance with Canadian NationalInstrument 43-101 - Standards of Disclosure for Mineral Projects ("NI 43-101"), classified in accordance with Canadian Institute of Mining Metallurgy and Petroleum's "CIM Standards on Mineral Resources and Reserves Definitions andGuidelines" (the "CIM Guidelines").

Pursuant to the CIM Guidelines, mineral resources have a higher degree of uncertainty than mineral reserves as to their existence as well as their economic and legal feasibility. Inferred mineral resources, when compared with measured orindicated mineral resources, have the least certainty as to their existence, and it is reasonably expected the majority of inferred mineral resources could be upgraded to indicated mineral resources with continued exploration. Pursuant to NI43-101, inferred mineral resources may not form the basis of any economic analysis, including any feasibility study. Accordingly, readers are cautioned not to assume that all or any part of a mineral resource exists, will ever be converted intoa mineral reserve, or is or will ever be economically or legally mineable or recovered. Premier is not aware of any environmental, permitting, legal, title-related, taxation, socio-political, marketing or other relevant issue that could materiallyaffect the mineral resource estimate. The definitions under NI 43-101 and the CIM guidelines differ from the definitions in Guide 7 of the U.S. Securities and Exchange Commission. Accordingly, information regarding mineral deposits maynot be comparable to similar information made public by U.S. companies subject to the reporting and disclosure requirements under the United States Securities laws and the policies and regulations thereunder.

The scientific and technical information contained in this Presentation has been reviewed by Stephen McGibbon, P. Geo., (Executive VP Corporate and Project Development) and a Qualified Person within the meaning of National Instrument43-101.

For further information on the technical data provided in this Presentation, including the key assumptions underlying the mineral resource herein, refer to the Sedar filings as listed below:

Note Project/Property Company Date

(1) Hasaga Premier Gold Mines Limited February 24, 2017(2) Hardrock Feasibility Premier Gold Mines Limited December 21, 2016(3) Cove Premier Gold Mines Limited March 31, 2018(4) Mercedes Premier Gold Mines Limited April 18, 2018(5) South Arturo Premier Gold Mines Limited March 26, 2018(6) Hardrock Press Release Premier Gold Mines Limited October 3, 2019

P R E MIE R G O L D M I NE S | 2

Page 3: PowerPoint Presentation · See Disclaimer page for notes and forward-looking statements Lupita –Diluvio Development Program Exploration Potential •Results continue to suggest

See Disclaimer page for notes and forward-looking statements.See the Company’s September 30, 2019 condensed consolidated financial statements and MD&A.

Premier Locations

• 100% North American focus

• Safe & world-class jurisdictions

• 4 core advanced-stage projects

Business Model

• Growing production through new minedevelopments in Nevada

• Two projects being permitted for futuredevelopment decisions

• Greenstone Gold project is a large-scale,de-risked project located on the Trans-Canada highway

• Commitment to exploration for reserveand resource growth

• Ended Q3 2019 with $33.1M cash & cashequivalents

Mining Operation

Advanced Exploration

Early Exploration

U n i t e d S t a t e s

M e x i c o

P R E MIE R G O L D M I NE S | 3

Nevada

Sonora, Mx

Ontario

Mining – Development – Exploration

C a n a d a

Page 4: PowerPoint Presentation · See Disclaimer page for notes and forward-looking statements Lupita –Diluvio Development Program Exploration Potential •Results continue to suggest

Extensive Growth Pipeline

See Disclaimer page for notes and forward-looking statements P R E MIE R G O L D M I NE S | 4

ExplorationConceptual/

ScopingFeasibility Execution

Current Production

Rye

100% PG

Hasaga

100% PG

Rahill-Bonanza

McCoy-Cove

100% PG

Greenstone

South Arturo - El Nino

South Arturo -Phase 1 Mercedes

100% PG

EXPLORATION ADVANCED EXPLORATION MINING OPERATIONS

South Arturo - Leach

South Arturo -Phase 3

Rodeo Creek

100% PG

Page 5: PowerPoint Presentation · See Disclaimer page for notes and forward-looking statements Lupita –Diluvio Development Program Exploration Potential •Results continue to suggest

See Disclaimer page for notes and forward-looking statements.

C a n a d a

U n i t e d S t a t e s

M e x i c o

P R E MIE R G O L D M I NE S | 5

South Arturo

Mercedes

Mining Operations

• Strategic project in the heart of the prolific CarlinTrend – the only project not held entirely by NGMin the North Carlin

• Commercial production was achieved at El Nino inH2-2019, optimizing development plan for thePhase 1 & Phase 3 pits and heap leach option

South Arturo, Nevada

Key Metrics

Mine OwnershipPremier Gold 40%

Nevada Gold Mines 60%

Mine Type Open Pit & Underground

Processing Roaster (Goldstrike)

Key Metrics

Mine Ownership Premier Gold 100%

Mine Type Underground

Plant Throughput Capacity 2,000 tpd

Mercedes, Mexico• Discovered two new mineralized zones – Lupita

Extension & San Martin displaying higher thancurrent reserve grades

• Implementing multiple optimization initiatives

Mining Operation

Advanced Exploration

Early Exploration

Page 6: PowerPoint Presentation · See Disclaimer page for notes and forward-looking statements Lupita –Diluvio Development Program Exploration Potential •Results continue to suggest

See Disclaimer page for notes and forward-looking statements

Mercedes Mine, Mexico

P R E MIE R G O L D M I NE S | 6

Key Metrics

Mine Ownership Premier Gold 100%

Mine Type Underground

Plant Throughput Capacity 2,000 tpd

• 2020 – focused on operational improvements:

• Advance Lupita Extension into mine plan

• Delineate San Martin discovery for year-end reserves

• Implement smaller mining equipment to allow reducedmining widths and headings sizes where appropriate

• Production guidance of 65,000-75,000 ounces of gold

Diluvio

Lupita

Rey de Oro

Klondike

Marianas

LagunasGap

Barrancas

Aida

Mercedes

Lupita ExtensionSan Martin

• Major developments in 2019:

• Discovered two new mineralized zones – LupitaExtension and San Martin that display potentialfor higher than current reserve grades

Overview & Highlights

Page 7: PowerPoint Presentation · See Disclaimer page for notes and forward-looking statements Lupita –Diluvio Development Program Exploration Potential •Results continue to suggest

See Disclaimer page for notes and forward-looking statements

Lupita – Diluvio Development Program

Exploration Potential

• Results continue to suggest the potential for a substantial resource at the Lipita/San Martin discoveries

• Focused on the development of Lupita Extension in 2020 as well as infill and step-out drilling at the newSan Martin discovery where recent infill drilling intersected up to 4.6 m @ 10.03 g/t Au

• 93 metres of the development drift at Lupita Extension averages 4.90 g/t Au across 3.9 m (true width)

ZoneAvg. true thickness

m

Au gradeg/t Au

Number of intercepts

San Martin 3.2 6.95 10

Lupita Ext 2.9 5.56 70

P R E MIE R G O L D M I NE S | 7

2019 Drill Program Results

Page 8: PowerPoint Presentation · See Disclaimer page for notes and forward-looking statements Lupita –Diluvio Development Program Exploration Potential •Results continue to suggest

• Strategic projects in the heart of the prolific Carlin Trend –South Arturo is the only project not held entirely by NGM in theNorth Carlin

• Commercial production was achieved at El Nino in H2-2019

• Optimizing development plan for the Phase 1 & Phase 3 openpits and heap leach option

• Significant exploration upside to achieve long-term production– underground expansion drilling at El Nino, expansion drillingat Phase 3 and at the East Dee target are planned in 2020

• Rodeo Creek (100% PG) has excellent potential to host thenorthern extension of the Dee-Arturo fault structure

Overview & Highlights

Key Metrics

Mine OwnershipPremier Gold 40%

Nevada Gold Mines 60%

Mine Type Open Pit & Underground

Processing Roaster (Goldstrike)

South Arturo Mine, Nevada

See Disclaimer page for notes and forward-looking statements P R E MIE R G O L D M I NE S | 8

Page 9: PowerPoint Presentation · See Disclaimer page for notes and forward-looking statements Lupita –Diluvio Development Program Exploration Potential •Results continue to suggest

Multiple Development Opportunities

Phase 1 Phase 3 Phase 2

El Niño Underground

Isometric view looking North

El Nino Underground Mine

• Mining of the Phase 2 pit completed in 2017, El Nino ramp to access high-gradeextension below the pit – Commercial Production achieved in 2019

• Drill program in 2020 focused on expanding reserves and resources

Phase 1 Open Pit Project

• Pre-stripping commenced, including the stockpiling of potential heap leach material

• ROM heap leach opportunity is being advanced with potential future construction ofon-site facility

• East Dee and South Hinge targets could contribute significant upside

Phase 3 Open Pit Project

• Targeted as the next phase of mining at South Arturo

East Dee

BD18-08C

21.3 m of 6.52 g/t Au

BD18-05C

25.9 m of 5.84 g/t Au

See Disclaimer page for notes and forward-looking statements P R E MIE R G O L D M I NE S | 9

El Nino Mine

Page 10: PowerPoint Presentation · See Disclaimer page for notes and forward-looking statements Lupita –Diluvio Development Program Exploration Potential •Results continue to suggest

Phase 3 Project

See Disclaimer page for notes and forward-looking statements P R E MIE R G O L D M I NE S | 10

• Geotechnical drilling completed Q2 & Q3 2019 (Hydrology, slope stability and geologic model of the Carlin formation)

• In Q2-Q3 2019, geo-metallurgy drilling was completed - samples collected from breccia and leach zones withmineralized grade intercepts extending below the bottom of current pit design

• Highlight results from 2019: 112.8 m of 7.29 g/t Au (MAD19004) & 62.5 m of 7.93 g/t Au (MAD19002)

Phase 3 Open Pit

Outside of current pit shell design

Page 11: PowerPoint Presentation · See Disclaimer page for notes and forward-looking statements Lupita –Diluvio Development Program Exploration Potential •Results continue to suggest

See Disclaimer page for notes and forward-looking statements.

C a n a d a

U n i t e d S t a t e s

M e x i c o

P R E MIE R G O L D M I NE S | 11

McCoy-Cove

Development Projects

Greenstone Gold, Ontario

McCoy-Cove, Nevada• Located in the Battle Mountain Trend, Nevada

• Cove is one of the highest-grade undeveloped+1Moz gold deposits in the United States

Greenstone

• Premier’s flagship asset is host to a 7.1M oz goldmeasured and indicated and 3.0M oz inferredmineral resource on a 100% basis

• Federal and Provincial EA/EIS approvals, Impactand Benefit Agreements signed with all requiredFirst Nation Communities

• Located on the Trans-Canada highway

Key Metrics

Ownership Premier 50% - Centerra 50%

Stage Feasibility – Permitting

Mine Type (planned) Open Pit (~27,000 tpd)

Key Metrics

Ownership Premier Gold 100%

Mine Type (potential) Underground

Processing Plan Third Party Roaster/Autoclave

Mining Operation

Advanced Exploration

Early Exploration

Page 12: PowerPoint Presentation · See Disclaimer page for notes and forward-looking statements Lupita –Diluvio Development Program Exploration Potential •Results continue to suggest

• Multi-million ounce gold deposit with excellentinfrastructure (on Trans-Canada Highway)

• Centerra is sole-funding ongoing CA$185M spend with$45M (CA$60M) remaining (Sept. 30, 2019)

• Full permitting underway with EA approvals fromFederal and Provincial Governments, full First Nationsupport

• 2016 feasibility study (gold price $1,250/oz) withNPV5% to Premier of $318M and 17.5% IRR, 14.5 yearmine-life – open pit only

Key Metrics

Ownership Premier 50% - Centerra 50%

Stage Feasibility - Permitting

Mine Type (planned) Open Pit

Plant Throughput Capacity (planned)

~27,000 tpd

Greenstone Property, Ontario

Project Overview

Mineral Resources (100% Basis and inclusive of mineral reserves)

Category TypeTonnes

Mt

Grade

g/t Au

Au Ounces

000’s

MeasuredResources

Open Pit Restricted 5.7 1.30 237

Underground Restricted - - -

Sub-Total 5.7 1.30 237

IndicatedResources

Open Pit Restricted 132.0 1.33 5,631

Underground Restricted 9.8 3.93 1,237

Sub-Total 141.8 1.51 6,868

Measured + IndicatedResources

Open Pit Restricted 137.7 1.33 5,868

Underground Restricted 9.8 3.93 1,237

Sub-Total 147.5 1.50 7,105

InferredResources

Open Pit Restricted 0.9 1.19 36

Underground Restricted 24.6 3.87 3,059

Sub-Total 25.5 3.77 3,095US$ commodity prices for mineral resource estimate: $1,250 for Gold

P R E MIE R G O L D M I NE S | 12See Disclaimer page for notes and forward-looking statements

Page 13: PowerPoint Presentation · See Disclaimer page for notes and forward-looking statements Lupita –Diluvio Development Program Exploration Potential •Results continue to suggest

• Large land package with 4 deposits identified and multiple exploration targets

• Only the Hardrock open pit considered in the economic study – underground deposit remains open down-plunge

• The nearby, Brookbank and Key Lake deposits offer further upside

• Updated mineral resource estimate represents a 21% increase in grade, 26% increase in ounces and 4% increase intonnes versus measured and indicated O/P mineral resources reported in the 2016 Feasibility Study

• Updated Economic Study delivered in December 2019

P R E MIE R G O L D M I NE S | 13

Greenstone Property, Ontario

See Disclaimer page for notes and forward-looking statements

Upside Opportunities

Western-most hole

MM170

18.49g/t – 20.5m

Page 14: PowerPoint Presentation · See Disclaimer page for notes and forward-looking statements Lupita –Diluvio Development Program Exploration Potential •Results continue to suggest

McCoy-Cove, Nevada

See Disclaimer page for notes and forward-looking statements P R E MIE R G O L D M I NE S | 14

• Located in the Battle Mountain Trend, Nevada

• Past production: 3.3 M oz Au and 110.0 M oz Ag

• Large underexplored land package of ~31,000 acres

Key Metrics

Ownership Premier Gold 100%

Stage Exploration – Resource Definition

Mine Type (potential) Underground

Processing Plan Third Party Roaster/Autoclave

Mineral Resources

CategoryTonnes

MtAu g/t

Ag g/t

Contained Ounces

Gold koz Silver koz

Indicated 0.948 11.21 29.53 342 900

Inferred 3.658 11.24 20.90 1,322 2,457

• Cove is one of the highest-grade undeveloped +1Moz golddeposits in the United States

• PEA concludes robust economics for the high-grade Covedeposit with low up-front capital

• Substantial upside exists with deposits remaining open forexpansion multiple untested regional targets

• Hydro line constructed to portal site in 2019

• Hydrology study and additional metallurgy being completedin advance of underground plan followed by FeasibilityStudy and deposit development decision

Overview & Highlights

Page 15: PowerPoint Presentation · See Disclaimer page for notes and forward-looking statements Lupita –Diluvio Development Program Exploration Potential •Results continue to suggest

Underground Development Program (Permitted)

Cove Carve-Out

See Disclaimer page for notes and forward-looking statements

150 m

OPENExpansion potential

PG-01

3m @ 40.0 g/t Au and 19 g/t Ag

PG16-02

50.9m @ 7.1 g/t Au

Incl. 13.1m @ 16.0 g/t Au

Mineral Resources

CategoryTonnes

MtAu g/t

Ag g/t

Contained Ounces

Gold koz Silver koz

Indicated 0.948 11.21 29.53 342 900

Inferred 3.658 11.24 20.90 1,322 2,457

PEA Production Assumptions (US $1,250/oz Au)

Tons Mined - Avg. Gold Grade 2,932,000 Tons @ 0.305 oz/t (10.46 g/t)

After-tax NPV 5%: $143.0 M - After-tax IRR: 48%

P R E MIE R G O L D M I NE S | 15

Page 16: PowerPoint Presentation · See Disclaimer page for notes and forward-looking statements Lupita –Diluvio Development Program Exploration Potential •Results continue to suggest

C a n a d a

U n i t e d S t a t e s

M e x i c o

P R E MIE R G O L D M I NE S | 16

Exploration

Hasaga Red Lake, Ontario

Hasaga

• 100%-owned project in the heart of one of theworld’s premier high-grade gold camps - Red Lakeproduction since the mid-1920’s of nearly 30Mozs of gold at an average grade of +15 g/t Au

• The Hasaga/Howey mines produced ~640,000ounces of gold (1930-1952)

• Final step-out hole - 23.4 m of 5.69 g/t Au within67.0 m of 4.02 g/t Au (HMP176W3)

Key Metrics

Ownership Premier Gold 100%

Mine Type (potential) Open Pit & Underground

Deposit CategoryTonnes ('000t)

Gold Grade (g/t)

Contained Au ('000 oz)

Central Indicated 31,613 0.79 804

Inferred 23,733 0.76 583

Hasaga Indicated 9,050 0.89 258

Inferred 806 1.00 26

Buffalo Indicated 1,632 1.18 62

Inferred 604 1.12 22

Hasaga (Open Pit) Mineral Resources by Target Area (@ 0.50 g/t Au)

See Disclaimer page for notes and forward-looking statements

Page 17: PowerPoint Presentation · See Disclaimer page for notes and forward-looking statements Lupita –Diluvio Development Program Exploration Potential •Results continue to suggest

Hasaga Deposit

Hasaga Deposit

• Strategically located in the heart of the prolific Red Lake goldcamp with multiple mills located within a 20 km radius

• Plan is to complete a resource estimate for the C & D Zonedeposits following the 2020 drill program that are located down-plunge of the historic Howey-Hasaga gold mine (~640k oz produced)

• Previously completed metallurgy indicates favourable metallurgywith recoveries in the range of 94-97%

• Potential for immediate expansion including:

• C-Zone proximal to HMP176W3 that returned 4.02 g/t Auacross 67.0 m including 5.69 g/t Au across 39.0 m

• D-Zone (down-plunge of C-Zone) where a single holeintersected 1.21 g/t Au across 181.0 m (HMP161)

• Upper D-Zone discovery with intercepts 8.54 g/t Au across8.0 m (HMP162) & 13.67 g/t Au across 6.0 m (HMP172)

• B-Zone expansion where drilling intersected 6.68 g/t Auacross 3.0 m below the historic mine workings

• Expansion potential as mineralization remains open in multipledirections

• Current drill program expected to comprise of more than 20,000metres testing multiple prospective targets

NS cross section ± 20 m

C Zone

C2 Zone

>0.35

0.35 – 1.00

1.00 – 3.00

3.00 – 5.00

5.00 – 10.00

>10.00

Au g/t

See Disclaimer page for notes and forward-looking statements

- 1000m

- 800m

- 600m

- 1200m

- 400m

- 200m

- 1400m

HMP1677.21 g/t Au over 5.5m

& 8.54 g/t Au over 10.0m

HMP16914.36 g/t Au over 3.0m

& 20.00 g/t Au over 1.0m& 58.76 g/t Au over 2.0m

HMP169W126.45 g/t Au over

4.0m

> 10.0 g/t Au

> 5.0 g/t Au

> 3.0 g/t Au

> 1.0 g/t Au

Historic Workings

HMP17-88-03-W23.36 g/t Au over 5.0m

& 22.56 g/t Au over 7.0mIncl 125.0 g/t Au over 1.0m

HMP169W33.57 g/t Au over 23.0m

Incl 15.88 g/t Au over 3.0m

HMP164W34.37 g/t Au over 5.0m

& 6.00 g/t Au over 6.0m& 12.03 g/t Au over 21.0m

100 m

ISOMETRIC VIEW – LOOKING E

P R E MIE R G O L D M I NE S | 17

Page 18: PowerPoint Presentation · See Disclaimer page for notes and forward-looking statements Lupita –Diluvio Development Program Exploration Potential •Results continue to suggest

Summary

See Disclaimer page for notes and forward-looking statements P R E MIE R G O L D M I NE S | 18

Growing Production

Commercial production achieved at El Nino underground mine

Advancing development plan for the Phase 1, Phase 3 open pits and heap leach opportunity at South Arturo

Two projects currently being permitted for future development (Hardrock & McCoy-Cove)

Growing Reserves and Resources

Hardrock mineral resource announced in Q4-2019 and updates planned for South Arturo and Mercedes

Resource update planned at Hasaga following the 2020 exploration program

Growing Cash Flow

Focused on delivering long-term cash flow through development of project pipeline

Page 19: PowerPoint Presentation · See Disclaimer page for notes and forward-looking statements Lupita –Diluvio Development Program Exploration Potential •Results continue to suggest

Company Snapshot

(1) As at September 30, 2019(2) Source: TSX infosuite and Sedi as at sept 30, 2019(3) Includes Ewan Downie and Orion Mine FinanceSee Disclaimer page for notes and forward looking statements A-1

Share Structure

Shares i/o 210,460,482 (1)

Options 11,939,000 (1)

RSUs/DSUs 1,065,334 (1)

Warrants 3,500,000 (1)

Analyst Coverage

RBC Capital Markets Mark Mihaljevic

CanaccordGenuity Tom Gallo

Scotia Capital Ovais Habib

CIBC World Markets Bryce Adams

Cormark Securities Tyron Breytenbach

BMO Capital Markets Andrew Mikitchook

Exploration Insights Brent Cook – Joe Mazumdar

Top 5 Shareholders (2) (~33%)

Orion Mine Finance

Tocqueville

Van Eck Associates

Fidelity

Oppenheimer

Insiders (2) (~15%)

Total Insiders (3) 30,876,945

Ewan Downie (7th largest shareholder) 4,200,278

Page 20: PowerPoint Presentation · See Disclaimer page for notes and forward-looking statements Lupita –Diluvio Development Program Exploration Potential •Results continue to suggest

Global Mineral Reserves & Resources

*GREENSTONE GOLD: Mineral reserves and resources were calculated at a gold price of US$1250 and US$1320 respectively. The current independent technical report on the property, dated December 21, 2016, is entitled “Hardrock Project, Ontario, Canada” was completed by G Mining Services Inc. an updated mineral resource was released on October 3, 2019 using the same gold price assumptions. Mineral resources are inclusive of mineral reserves.**MERCEDES: For 2018, mineral reserves and mineral resources were calculated under the supervision of Stephen McGibbon, Executive Vice-President of Project & Corporate Development at Premier Gold Mines Ltd at gold prices of US$1200 and US$1400 and silver prices of US$16.50 and US$19.25 respectively. The independent technical report on the property dated April 18, 2018, entitled “TECHNICAL REPORT ON THE MERCEDES GOLD-SILVER MINE, SONORA STATE, MEXICO” provides detail on resource estimate methodologies and assumptions.***SOUTH ARTURO: Calculations have been prepared by employees of Barrick under the supervision of Rick Sims, Vice President, Resources and Reserves, of Barrick, Geoffrey Locke, Manager, Metallurgy, of Barrick and Mike Tsafaras, P. Eng., Manager, Value Realization of Barrick. Except as noted below, reserves have been estimated based on an assumed gold price of US$1,200 per ounce, an assumed silver price of US$16.50 per ounce****McCOY-COVE: Mineral resources at Cove were estimated using a gold price of US$1400 per ounce. One ounce of gold is equivalent to 140 ounces of silver. The current independent technical report on the property, dated June 29, 2018, is entitled “PRELIMINARY ECONOMICASSESSMENT FOR THE COVE PROJECT, LANDER COUNTY, NEVADA” and was completed by Practical Mining LLC*****HASAGA: Mineral resources at Hasaga were estimated using a gold price of US$1400 per ounce. The current independent technical report on the property, dated February 24, 2017, is entitled “NATIONAL INSTRUMENT 43-101 TECHNICAL REPORT: HASAGA PROJECT, RED LAKE MINING DISTRICT, ONTARIO, CANADA, NTS MAP SHEETS 52K/13 AND 52 N/04” and was completed by MRB and Associates.See Disclaimer page for forward-looking statements and cautionary notes on mineral reserve and mineral resource estimates A-2

Global Reserves (attributable to Premier)

Global Resources (attributable to Premier)GOLD (Au) MEASURED RESOURCES INDICATED RESOURCES MEASURED+INDICATED RESOURCES INFERRED RESOURCES

PROPERTYTonnes

Mt

Grade

g/t Au

Au Ounces

000's

Tonnes

Mt

Grade

g/t Au

Au Ounces

000's

Tonnes

Mt

Grade

g/t Au

Au Ounces

000's

Tonnes

Mt

Grade

g/t Au

Au Ounces

000's

Greenstone* 2.85 1.30 118.5 70.90 1.51 3,434 73.75 1.50 3,553 12.75 3.77 1,548Mercedes** 0.25 3.32 27 3.00 3.41 329 3.25 3.40 356 1.72 4.18 231South Arturo*** 2.40 1.06 81 6.82 1.03 228 9.22 1.03 309 0.76 1.03 32McCoy-Cove**** - - - 0.95 11.22 342 0.95 11.22 342 3.66 11.24 1,322Hasaga***** - - - 42.29 0.83 1,124 42.29 0.83 1,124 25.14 0.78 631TOTAL 5.50 1.29 226.5 123.96 1.54 5,457 129.46 1.54 5,684 44.03 3.35 3,764

SILVER (Ag) MEASURED RESOURCES INDICATED RESOURCES MEASURED+INDICATED RESOURCES INFERRED RESOURCES

PROPERTYTonnes

Mt

Grade

g/t Ag

Ag Ounces

000's

Tonnes

Mt

Grade

g/t Ag

Ag Ounces

000's

Tonnes

Mt

Grade

g/t Ag

Ag Ounces

000's

Tonnes

Mt

Grade

g/t Ag

Ag Ounces

000's

Greenstone* - - - - - - - - - - - -Mercedes** 0.25 51.23 417 3.00 36.94 3,564 3.25 38.05 3,981 1.72 36.11 1,997South Arturo*** - - - - - - - - - - - -McCoy-Cove**** - - - 0.95 29.53 900 0.95 29.53 900 3.66 20.89 2,457Hasaga***** - - - - - - - - - - - -TOTAL 0.25 51.23 417 3.95 35.16 4,464 4.2 36.13 4,881 5.38 25.76 4,454

GOLD (Au) PROVEN RESERVES PROBABLE RESERVES PROVEN+PROBABLE RESERVES

PROPERTYTonnes

Mt

Grade

g/t Au

Au Ounces

000's

Tonnes

Mt

Grade

g/t Au

Au Ounces

000's

Tonnes

Mt

Grade

g/t Au

Au Ounces

000's

Greenstone (Hardrock)* - - - 70.85 1.02 2,342 70.85 1.02 2,342

Mercedes** 0.19 9.01 56 3.19 3.31 339 3.38 3.63 395

South Arturo*** 1.51 3.20 155 1.34 2.79 120 2.84 3.01 275

TOTAL 1.70 3.87 211 75.38 1.15 2,783 77.08 1.21 2,994

SILVER (Ag) PROVEN RESERVES PROBABLE RESERVES PROVEN+PROBABLE RESERVES

PROPERTYTonnes

Mt

Grade

g/t Ag

Ag Ounces

000's

Tonnes

Mt

Grade

g/t Ag

Ag Ounces

000's

Tonnes

Mt

Grade

g/t Ag

Ag Ounces

000's

Greenstone (Hardrock)* - - - - - - - - -

Mercedes** 0.19 80.97 503 3.19 21.67 2,222 3.38 25.05 2,725

South Arturo*** - - - - - - - - -

TOTAL 0.19 80.97 503 3.19 21.67 2,222 3.38 25.05 2,725