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TSX.V: OS OTCQB: OSSPF WWW.OSPREYGOLD.COM

January 2018TSX.V: OS OTCQB: OSSPF

Rediscovering Gold in Atlantic Canada


Forward-Looking Statements

All statements in this presentation, other than statements of historical fact, are "forward-looking information" with respect toOsprey within the meaning of applicable securities laws including, without limitation economic estimates and statements related toestimated mining costs.. Osprey provides forward-looking statements for the purpose of conveying information about currentexpectations and plans relating to the future and readers are cautioned that such statements may not be appropriate for otherpurposes. By its nature, this information is subject to inherent risks and uncertainties that may be general or specific and whichgive rise to the possibility that expectations, forecasts, predictions, projections or conclusions will not prove to be accurate, thatassumptions may not be correct and that objectives, strategic goals and priorities will not be achieved. These risks anduncertainties include but are not limited to exploration findings, results and recommendations in connection with the updatedtechnical report on the Goldenville property, as well as those risks and uncertainties identified and reported in Osprey’s publicfilings under Osprey’s SEDAR profile at www.sedar.com. Although Osprey has attempted to identify important factors that couldcause actual actions, events or results to differ materially from those described in forward-looking information, there may be otherfactors that cause actions, events or results not to be as anticipated, estimated or intended. There can be no assurance that suchinformation will prove to be accurate as actual results and future events could differ materially from those anticipated in suchstatements. Osprey disclaims any intention or obligation to update or revise any forward-looking information, whether as a resultof new information, future events or otherwise unless required by law.

All historic production, drill or sample figures quoted herein are based on prior data and reports obtained and prepared byprevious operators. The Company has not completed the work necessary to verify results. The historical figures should not be reliedupon and have not been verified by a Qualified Person.

Technical aspects of this presentation have been reviewed and approved by the Qualified Person, Perry MacKinnon,P.Geo., hereby designated as a QP under National Instrument 43-101.

Dave Thomas, M.Sc., P.Geo. and Neil Pettigrew, M.Sc. P.Geo, are both a 'Qualified Person' for the purpose of National Instrument 43-101 Standards of Disclosure for Mineral Projects of the Canadian securities administrators ("NI 43-101"). They have both approved the disclosure of, and are the 'Qualified Persons' responsible for the scientific and technical information of the resource estimate information.

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http://www.sedar.com/


• Projects located in Nova Scotia, a safe, politically stable jurisdiction home to 3 historic gold rushes

• Attractive value proposition; Osprey is exploring five past producing gold projects: Goldenville, Caribou, Lower Seal Harbour, Miller Lake, and Gold Lake

• Goldenville, Osprey’s most advanced project, has excellent existing infrastructure; 5 minutes by paved highway from Sherbrooke, residential power, and an on-site office

• Osprey seeks to define significant near-surface deposits in a historic gold producing region

• Proximity to other projects: Caribou is 8 kilometers by road from Atlantic Gold's Touquoy mill site, Goldenville is 17 kilometers by highway from Cochrane Hill

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Company Overview

*See March 16, 2017 News Release “Osprey Announces Resource Estimate Update and Reports 60% Increase in Inferred Resources at GoldenvilleProject, Nova Scotia” for further details.

**Mineral resources are not mineral reserves and do not have demonstrated economic viability. No mineral reserves have as yet been defined. Inferredmineral resources are considered too speculative geologically to have the economic considerations applied to them that would enable them to beconsidered for estimation of mineral reserves, and there is no certainty that the inferred mineral resources will be realized.

Share Structure- TSX.V: 0S OTCQB: OSSPF

Shares Issued & Outstanding 27,834,333

Options (Price $0.30 Expiry Jan 25, 2022) 1,325,000

Warrants (Price $0.40 Expiry Sept 3, 2018) 4,840,120

Fully Diluted 33,999,453


Management & Advisors

Directors and Management

Cooper Quinn, President & Director - Mr. Quinn has worked in mining and exploration since he graduated from Simon Fraser Universitywith a degree in Earth Science. He has worked for a variety of exploration and development companies with projects in North America,Greenland, Europe, and the South Pacific Islands. Mr. Quinn was a Senior Geologist with Underworld Resources and most recently, LionOne Metals. His experience ranges from project management to acquisitions and DD for private equity.

Jeffrey R. Wilson, CEO & Director - Mr. Wilson has 20 years of experience in the mineral exploration and mining investment industry. Hehas raised $50m through his wealth of contacts in the investment community including institutional investors, retail brokers,investment bankers, mining analysts and private investors. During his career, Mr. Wilson has been involved with multiple juniorresource companies that have seen profitable take overs by mid-tier mining companies. Mr. Wilson is currently President & CEO ofPrecipitate Gold Corp.

Perry MacKinnon, P.Geo, Vice President of Exploration - Mr. MacKinnon is an experienced geologist and prospector in Nova Scotia andNew Brunswick. He has over 30 years’ experience in the mining industry, having worked continent wide on a variety of projects andlarge number of mineralized environments.

Adrian Fleming, Chairman & Director - Mr. Fleming has over 35 years experience in the mining industry, most significantly President ofUnderworld Resources and their White Gold Project, which was acquired by Kinross Gold for $139M. He has been a part of numeroussignificant discoveries, including Porgera and Hope Bay

Greg Beischer, P.Geo, Director - Mr. Beischer currently serves as President and CEO of Millrock Resources, a successful project generatorand has been involved in mining and exploration for 30 years.

Jasmine Lau, CFO & Corporate Secretary – Ms. Lau is a member of the Institute of Chartered Accountants of British Columbia and hasfocused her career in the resource and pharmaceutical industries. Jasmine has served as CFO and was the controller of several publicexploration companies with projects throughout the world. Jasmine has worked at Teck Resources Ltd as a SOX Auditor as well asDeloitte & Touche LLP’s Vancouver Assurance & Advisory group where she focused on audits of public mining and resource companies.

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Why Invest in Atlantic Canada?

• Nova Scotia holds several projects currently in the works and one major mine already in operations

• Extensive history of high grade production

• The province has supported three major gold rushes producing approximately one million ounces

• NS has a very low geo-political risk, ranking 17th out of 109 Mining Jurisdictions for Policy Perception

• District-scale potential in an underexplored area

• Excellent access and infrastructure in place

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Chart Source: Virtual Museum

Gold Ounces Produced in Nova Scotia between 1812

https://www.fraserinstitute.org/sites/default/files/survey-of-mining-companies-2015.pdf

http://www.virtualmuseum.ca/edu/ViewLoitDa.do;jsessionid=CE375E6120AE8E2EAA5263ADC19EEA57?method=preview&lang=EN&id=26154


Proximity To Atlantic Gold Success

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Atlantic Gold’s Moose River Consolidated Project is an open pit bulk tonnage operation. Osprey plans to investigate the potential for Goldenville to be reconfigured in a similar manner. Atlantic Gold’s FS – July 2, 2015: Feasibility Study for Moose River Consolidated Project, Nova Scotia http://atlanticgoldcorporation.com/_resources/AtlanticGold_technicalreport43101_20140813.pdfGoldenville is at an earlier stage than Atlantic’s MRCM; there are no guarantees that the project will achieve a positive Preliminary Economic Assessment or eventual Pre-Feasibility, Feasibility or production status.

Atlantic Gold (TSX-V:AGB):

• Recently permitted, financed, and constructed Canada’s newest open pit gold project

• Exploring near known historic deposits and finding significant resources and reserves

• First gold pour achieved in October, 2017 – currently ramping up to commercial production

Osprey Gold is:

• Actively exploring historic producing districts for near surface and disseminated mineralization in the same rock formation as Atlantic Gold

• Well situated, with projects easily accessible on existing infrastructure, in proximity to Atlantic and other operators

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ATLANTIC GOLD RESOURCE Moose River Consolidated

Classification MtDiluted Grade

(g/t Au)Mined Au oz's

(000)

Proven Reserves 6.65 1.45 310

Probable Reserves 9.8 1.43 450

Total 16.45 1.44 760

http://atlanticgoldcorporation.com/_resources/AtlanticGold_technicalreport43101_20140813.pdf

TSX.V: OS OTCQB: OSSPF WWW.OSPREYGOLD.COM 7

Project Map & District Gold


Goldenville, Miller Lake & Lower Seal Harbour Projects


NOVA SCOTIA’S MOST PROLIFIC GOLD CAMP

• Goldenville is the largest historic gold producer in Nova Scotia, with 212,300 ounces of gold production prior to 1942, discovered in 1862

• Inferred Resource* of 2,800,000 tonnes at 3.20 g/t gold for 288,000 ounces of gold (2,800,000 tonnes at 4.96 g/t gold for 447,000 ounces of gold uncapped)**

• Explored intermittently from 1962 through 2014

• Mineralization comes to surface, and is open along strike and at depth

George Hirchfield Gold Mine, Stuart Hardman Property, Goldenville Gold District - 1897. Photograph by E. R. Faribault. Geological Survey of Canada Photo #5273.

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Goldenville - Project Overview


Goldenville-Inferred Resource Estimate (2017)

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Goldenville Mineral Resource and Sensitivities, Near Surface

Cut‐Off Tonnes Capped Au (g/t)

Capped Au (Oz)

Uncapped Au (g/t)

Uncapped Au (Oz)

0.50 1,370,000 2.79 123,000 4.66 206,000

0.75 1,240,000 3.02 120,000 5.08 203,000

1.00 1,125,000 3.24 117,000 5.49 199,000

Cut‐Off Tonnes Capped Au (g/t)

Capped Au (Oz)

Uncapped Au (g/t)

Uncapped Au (Oz)

2.00 1,560,000 3.35 168,000 4.87 244,000

2.25 1,310,000 3.58 151,000 5.21 220,000

2.50 1,030,000 3.91 130,000 5.68 189,000

Goldenville Mineral Resource and Sensitivities, Underground

Please refer to Appendix A for Notes to the March 2, 2017 NI 43-101 Inferred Mineral Resource. Mineral resources are not mineral reserves and do nothave demonstrated economic viability. No mineral reserves have as yet been defined. Inferred mineral resources are considered too speculativegeologically to have the economic considerations applied to them that would enable them to be considered for estimation of mineral reserves, and thereis no certainty that the inferred mineral resources will be realized. 2017 inferred resource includes a near surface and an underground resource with acut-off of 0.75 g/t and 2.0 g/t respectively.


Goldenville- Geology and Mineralization

• Structurally controlled slate belt hosted gold

• Vein hosted mineralization controlled by bedding, anticline plunge, and cross cutting structures

- Anticline trends roughly east-west, dips gently west

- Up to 46 sequenced vein packages identified on both limbs of the anticline

• Disseminated mineralization within slates/argillite

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• Classic Meguma terrain-style deposit, similar to the Bendigo camp in Australia

- Potential for veining to continue at depth,

similar to Australian deposits


Goldenville- Infrastructure & Claim Blocks

• Excellent existing infrastructure with provincial highway access, power availability, and close to a nearby town

• Goldenville is hosted in the same rock formation as Atlantic Gold Corp’s MRC deposits

• Proximity to other projects: Goldenville is 17 kilometers by highway from Atlantic’s Cochrane Hill Project

• Potential to expand resources on the Goldenville property with exploration success at Mitchell Lake zone


Goldenville-Resource Strike and Depth Potential

Two 1997 drill holes 3km to west show gold mineralization in veins and slate host rocks including Mit-1 which returned:

1.33 g/t Au over 20.2m (from 54.2m to 74.4m)

Goldenville

Discovered 1861

Total production 0.2Moz

Production to 300m 0.2Moz

Known depth 325m

Discovered 1851

Total production 1.0Moz

Production to 300m 0.2Moz

Known depth 1200m1km

Mitchell Lake

Source: Nova Scotia Department of Natural Resources


Caribou & Gold Lake Projects


• 8 kilometers north of Atlantic Gold’s Touquoy Mine and Moose River Consolidated mill site

• Historic drill results in stockwork zones include 11.2 metres at 10.86 grams per tonne (“g/t”) gold in Hole CM-98-01 and 9.8 metres at 12.2 g/t gold in Hole SB-88-11;

• Reported past production of over 100,000 gold ounces between 1869 and 1955

• Project area includes broad areas of Halifax Group argillites, a favored host rock for disseminated gold and which at the Caribou Project are largely unexplored;

Caribou- Project Overview

• Osprey intends to plan exploration programs to test the argillites, extend known high grade veins, and expand and discover new zones of stockwork veining

The reader is cautioned that a qualified person has not done sufficient work to classify this Historical Estimate as current resources and Osprey is not treating this Historical Estimate as a current mineral resource. While this estimate was prepared in accordance with National Instrument 43-101 and the “Canadian Institute of Mining, Metallurgy and Petroleum Standards on Mineral Resources and Mineral Reserves Definition Guidelines” in effect at the time, there is no guarantee that it would be consistent with current standards and it should not be regarded as consistent with current standards. The Historical Estimate is relevant to obtain a reference to mineral potential present on the property. The Company has not undertaken any verification of the historical data upon which the historical estimates are based on.


Gold Lake- Project Overview

• Located along strike from Goldenville on

• Discovered in 1867

• Several small shafts with underground workings

• Over 8,000m in 52 holes have been drilled since 1986

• Approx 1 hour from Halifax by road

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Vein or Interval (If Indicated)

Gold Grade (g/t)

Sample Type Width (m)

Location/Source Reference

Iron Lead 34.29 0.46 70’ *UG Level: MacDonald (1986)

Murchy Belt 4.98 1.5 Trench 85-5: MacDonald (1986)

Iron Lead 58.29 0.67 **DDH 86-10: Morris (1987)

Queen? 9.94 1.52 **DDH 88-1: Michaelis (1988a)

Murchy Belt? 26.05 1.52 **DDH 88-1: Michaelis (1988a)

Iron? 12.34 1.52 **DDH 88-1: Michaelis (1988a)

Murchy Belt 18.51 1.52 **DDH 88-2: Michaelis (1988a)

MacPhail - Twin 27.42 1.52 **DDH 88-5: Michaelis (1988a)

Murchy Belt 5.14 1.52 **DDH 88-7: Michaelis (1988a)

Queen? 57.60 1.52 **DDH 88-20: Michaelis (1988a)

*UG = Denotes underground workings

** Weighted intervals and grades from page 15 of report – Au Troy ounces /short ton converted to Au grams/tonne by factor of 34.286 grams/tonne = 1 Troy ounce per short ton

Selected Historic Results from 1986-1988 Exploration Program


Lower Seal Harbour and Miller Lake Projects


Lower Seal Harbour- Project Overview

• Approximately 35 kilometers from Goldenville

• Production records indicate gold is found both in the veins and the host rocks.

• Production from 1894-1942 is reported as 39,654 ounces from 53,534 (0.74 oz/t) tons mined, with mineralization starting from surface

• Veins are reported from 1.4m to greater than 10m in width, and were commonly mined as a 50m wide “mine structure”

• Adjacent to Anaconda Mining’s Goldboro Project; known host to disseminated mineralization

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Between the years 1894-1942, Lower Seal Harbour reportedly produced 39,654 ounces from 53,534 tons mined (0.74 oz/t).


Miller Lake- Project Overview

• Approximately 14 kilometers from Goldenville with historic production, and limited recent exploration

• Two historic shafts, with strike length over 1km, mineralization starts at surface

• Along strike from Dufferin Mine, currently in production (Resource Capital Gold, TSX.V:RCG)

• Follow up in 1988 consisted of geophysics and 2,377m of diamond drilling

Historic production figures from a Nova Scotia

Department of Mines report

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Year Rock Crushed in Tons

Yield of Gold in Ounces

1902 193.00 68.50

1906 73.00 64.50

1907 143.00 46.88

1913 15.00 6.75

1914 6.00 1.30

1915 18.00 8.95

1934 3.00 4.00

1938 26.00 6.70

1939 28.70 12.28

1940 150.00 70.00

1941 336.00 95.93

1942 Mortared 1.09

1947 50.50 24.15

1948 241.00 72.33

Totals 1,283.20 483.36

Average Grade: 0.376 oz/ton Au


Acquisition Terms

Caribou– $900k over three years

• $200k upon signing definitive agreement

• $200k at year one and two

• $300k at year three

– $100k/yr spending commitment during term of agreement

– 3% NSR

• 1% buyback for $500k

• Additional 1% buyback for $750k

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Goldenville, Lower Seal Harbour, Gold Lake, Miller Lake

– $1M over three years

• $150k upon signing definitive agreement

• $250k at year one and two

• $350k at year three

– 2% GMR on Goldenville

• 1% buyback for $750k

• Additional 0.5% buyback for $375k


Osprey Gold Vs Similar Mining Companies

As of October 2017

$137

$70 $66

$63

$40

$9

$0

$20

$40

$60

$80

$100

$120

$140

$160

Atlantic Gold Marathon Gold Lion One Metals Bonterra Resources Eastmain Resources Osprey Gold

Market Cap per Ounce (CAD)


Projects Snapshots


• Footnotes to mineral resource statement:

• Mineral resources are not mineral reserves and do not have demonstrated economic viability. No mineral reserves have as yet been defined. Inferred mineral resources are considered too speculative geologically to have the economic considerations applied to them that would enable them to be considered for estimation of mineral reserves, and there is no certainty that the inferred mineral resources will be realized.

• Fladgate undertook data verification, and reviewed historical quality assurance and quality control programs on the mineral resources data. Fladgate concluded that the collar, survey, assay, and lithology data were adequate to support mineral resources estimation.

• A dry bulk density value of 2.67 g/cm3 for all material was assigned from similar Meguma‐type gold mineralization with similar rock types in Nova Scotia.

• Fladgate assumed a metallurgical recovery of 90% based on a qualitative assessment of the gold mineralogy and grain size.

• Near surface mineral resources are constrained within an open pit shell optimized with an L‐G algorithm. A process and G&A cost of $25 and a mining cost of $3.00/tonne have been used.

• Underground resources have been constrained within a grade shell using a 2.0 g/t threshold, assuming a mining cost of $50/tonne in addition to the operating costs. Isolated blocks were removed from the grade shell. The mineral resources have been depleted using solids representing underground development and areas of stoping for post 1920’s historical mining for which technical drawings are available, however no records are available for the abundant, pre 1920’s mining development, which is known to have occurred throughout the property.

• Blocks were classified as inferred in accordance with CIM Definition Standards.

• The contained metal figures shown are in situ. The resource estimation methodology incorporates a significant amount of external and internal dilution due to the use of 2 meter composites, probabilistic domaining and the grade smoothing introduced by ordinary kriging with a variogram which has a short range of influence.

• No assurance can be given that the estimated quantities will be produced. All figures have been rounded to reflect accuracy and to comply with securities regulatory requirements. Summations within the tables may not agree due to rounding.

Appendix A: Notes to the March 2, 2017 NI 43-101 Resource


Appendix B: Past Drilling and Exploration

Year(s) Company Summary Drilling

1961 Denison Mines Ltd. 6 drill holes totalling to test for saddle reef style vein packages on the south limb of the anticline. 609 m

1974 - 1976 Alamo Petroleum Ltd. /

Rosario Resources Corp

Ground VLF-EM survey, and 2 diamond drill holes in the Wellington Mine area. 436 m

1981 Northumberland Mines Ltd. / NovaGoldResources Inc

Airborne VLF-EM and magnetometer surveys. Ground VLF-EM. 6 BQ drill holes to test veins outlined by

Faribault (1898)1,038 m

1984 55 NQ drill holes. Excavation of small open cut on six veins; ~3,500 tonnes of vein and wall rock recovered.

Collapse of the pit floor prevented selective mining and resulted in a high waste rock dilution. 6,143 m

1985 9 drill holes totalling 7,000 ft (2,134 m) along two section lines. Significant results were returned from 15

separate horizons.2,134 m

1987 Phase 1 drilling consisted of 17 NQ holes. Phase 2 drilling consisted of extensions of 6 holes from Phase 1 and

24 new holes.16,029 m

1988 Surface drilling of 10 NQ holes. Dewatering of Stuart shaft, rehabilitation of old workings, panel sampling,

geological mapping and 8 AX underground holes. 2,068 m

1997 Gammon Lake Resources 2 NQ drill holes on Mitchell Lake claims located 3km west of old workings. 263 m

2003-2006 Acadian Resources 11 NQ drill holes. 1,439 m

2012 - 2014 Goldworx NS Initial evaluation and validation of NI 43-101 resource estimate produced by Mercator Geological Services

Ltd. in 2005 and 1985 Seabright Resources tailings resource estimate (non NI 43-101 compliant).

Comprehensive review and compilation of historic data. Preliminary digital model created in Datamine.

Roughly 20 drill holes are completed, however they remain unlogged and unsampled.

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Total Diamond Drilling: 30,159 m

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