Investment proposition and strategy

ADVANCED EXPLORATION TARGETING LARGE, HIGH VALUE DEPOSITS

Why Pahtavaara?

• The Ikkari Discovery
  • Moving towards a maiden resource in Summer 2021
  • Preliminary testwork indicates extremely favourable metallurgy
  • Located <5km from road and renewable power transmission
• Regional exploration
  • Continuation of proven program to generate further discoveries of scale both at Area 1 and along wholly owned 20km trend
  • 509km² land package in Central Lapland Greenstone Belt
• Pahtavaara mine
  • Permitted mill and potential for low capital start-up
  • NI 43-101 Inferred Resource of 4.6 Mt at a grade of 3.2 g/t Au
  • Exploration upside

Why now?

• Asymmetrical exploration risk/reward - six new discoveries and progressing towards a resource
• Strategic investment from Agnico Eagle validates discoveries and approach
• Key management team and funding in place

Continuous focus on value creation and returns

• Realise hidden value
• Ensure investment is accretive to valuation to maximis returns per share
• Opportunity to develop high margin low emissions mine in low risk jurisdiction