Corporate Presentation

Corporate PresentationOpen-pit Gold Heap Leach Project in Ghana June 2015

FORWARD LOOKING STATEMENT

Certain statements in this document constitute “forward looking statements” which may not be based onhistorical fact. Such forward looking statements involve known and unknown risk, uncertainties and other factorswhich may cause the actual results, performance or achievements of the Company, or industry results to bematerially different from any future results, performance, or achievements expressed or implied by such forwardlooking statements. Such factors include, among others, the following: actual results of exploration anddevelopment activities; the estimation or realization of mineral reserves and resources; the timing and theamount of future production; the costs and timing of the development of new deposits; future prices of preciousand base metals; accidents; risks inherent in mineral exploration; risks associated with development, constructionand mining operations; restrictions on foreign ownership; the Company’s history of operating losses anduncertainty of future profitability; uncertainty of access to additional capital; environmental liability claims andinsurance; and dependence on joint venture partners.

Mr. Gregory Smith, P. Geo., Vice President of Exploration for Pinecrest Resources Ltd., is the qualified person asdefined by NI 43-101 and has prepared and approved the technical data and information in this corporatepresentation.

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ENCHI GOLD PROJECT OVERVIEW

• 1M oz Inferred gold resource open-pit, heap leach project

• Located in Ghana’s prolific Bibiani Sheer zone which is host to several multi-million ounce gold deposits

• Preliminary Economic Assessment (“PEA”) completed in March 2015

• US$1,300 oz gold price: 61,749 oz per year, Pre-Tax NPV5% US$102M, IRR 33% and US$802 oz cash costs (including royalties) After-Tax NPV5% US$62M and IRR 24%

• Ashanti Style, shear hosted mesothermal gold system

• Shallow, near surface resources open in all directions, demonstrating excellent resource expansion and discovery potential

• 568km2 land package with several high priority targets

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INVESTMENT HIGHLIGHTS

41. Inferred resource using a 0.5 g/t Au cut-off grade.

Strong PEA Results

Pre-Tax NPV5%: US$102MPre-Tax IRR: 33%

Strong Exploration Upside

Substantially underexplored 696km2 land package located on

prolific Bibiani Shear zone

Over 1M oz Au1

July 2014 NI 43-101 compliant Technical Report

Stable Mining Jurisdiction

Ghana is Africa’s 2nd largest gold producer and the world’s 8th largest

Strong Management

Skilled technical team

Strategic Partnerships

19.9% ownership by Kinross Gold18.2% ownership by Sandstorm

Gold

Financing Acquisition

• Feb 2015 ~A$180M acquisition of OrbisGold Limited announced

• Feb 2015 C$46M bought deal financing completed

• July 2014 US$150M debt facility with Red Kite Mine Finance Trust I secured

RENEWED FOCUS ON AFRICAN GOLD EQUITIES

African focused gold companies up ~22% year-to-date (“YTD”)

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Select Transactions in Africa

US$135M

US$150M

C$46M

US$63M

• June 2014 US$570M acquisition of Papillion Resources Limited

• Dec 2013 US$63M acquisition of Volta Resources Inc.

• Jan 2014 US$135M stream agreementwith Franco Nevada Corporation completed on Senegal gold project

US$570M

A$180M

WEST AFRICAN GOLD DEPOSITS

• Gold assets in West Africa with deposits >0.5M oz Au and <2.0M oz Au

• Opportunity to consolidate nearby West African gold deposits

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GHANA OVERVIEW

7Source: 911 Metallurgist and Fraser Institute.

OVER 250 TONSThe amount of gold

Ghana has produced in the last 25 years

Biggest gold producer in Africa

8thBiggest gold producer

in the world

$21.5 MILLIONRoyalties given back to Ghanaian

Communities between 2009 - 2011

$500 MILLION

The amount of tax resulting from gold

produced in Ghana for 2011

70%

The amount of West Africa’s Gold Ghana is

believed to hold

5-10% The amount of Ghana’s labor force

employed by gold mining

2nd

5thThe rank among African

countries on Fraser Institute’s Investment Attractiveness Index

CORPORATE OVERVIEW

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MANAGEMENT, DIRECTORS & KEY ADVISORS

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GEORGE SALAMIS

CHIEF EXECUTIVE OFFICER & DIRECTOR

• Raised over $800M in equity and completed M&A transactions valued over $1BN

• Chairman of Integra Gold Corp.• Senior experience with Placer Dome

Inc. & Cameco Corporation

RYAN KING

PRESIDENT & DIRECTOR

• Raised over $150M in equity and completed M&A transactions valued over $500M

• Senior experience with Calibre Mining Corp. Edgewater and TerraneMetals (acquired for $750M)

GREG SMITH, P.GEO

VP EXPLORATION

• +25 years of exploration experience for junior and senior mining operations

BLAYNE JOHNSON

DIRECTOR

• Chairman of Featherstone Capital Advisors

• Senior experience at First Marathon

DOUGLAS FORSTER, P.GEO

DIRECTOR

• +30 years experience, Seniorexperience with over 12 publicly traded companies on N.A. stock exchanges

EDWARD FARRAUTO

DIRECTOR

• +30 years of experience with publicly listed mineral exploration and development companies

DANIEL WILSON

COUNTRY MANAGER

• Senior experience with Ashanti Gold Fields Corporation and Red Back

DR. JOHN THOMAS

TECHNICAL ADVISOR

• 40 years experience, development, engineering and management of construction, and operation of mines

CAPITAL STRUCTURE & OWNERSHIP

10Source: Capital IQ and SEDI.

Symbol TSX-V: PCR

Closing Price $0.21

Market Capitalization $11.55M

Shares Outstanding

Basic 54.9M

Options (avg exercise $0.22) 3.8M

Kinross Warrants (avg exercise $0.30) 5.0M

Warrants (avg exercise $0.30) 18.0M

Fully Diluted 81.7M

Fully Diluted Cash ~$11.0M

Working Capital ~$2.0M

Debt -

Fully Diluted Enterprise Value $25.8M

Management & Insiders (15%)

Capital Structure Top Shareholders

ENCHI GOLD PROJECT OVERVIEW

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REGIONAL SETTING

• Pinecrest’s flagship Enchi Gold Project is located on the prolific Bibiani Shear zone which hosts multi-million ounce gold deposits

− Enchi Gold Project covers 50km of the Bibiani Shear Zone

• Located within 70km of Kinross Gold Corporation’s Chirano gold mine which produced 286,542 oz Au in 2014

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Bibiani Deposit

Chirano Deposit

Ahafo Deposit

Esaase Deposit

Obotan Deposit

Ashanti Deposit

Perseus Deposit

Tarkwa Deposit

ENCHI GOLD PROJECT OVERVIEW

• 100%1 owned resource delineation stage gold project

• NI 43-101 compliant Technical Report with an Inferred resource of +1M oz Au

• Substantially underexplored 696km2 land package

− VTEM airborne geophysical survey identified over 25 new exploration targets

• Resource zones Boin, Nyam and Sewum open in all directions

131. Subject to a 10% carried interest to the Ghana government.

Gold Producers

ENCHI MINERAL RESOURCE ESTIMATE (2014)

The 2014 Mineral Resource estimate was based on 52,385 metres of diamond and RC drilling in 646 holes as well as data from 13,799 metres in 102 surface trenches. The drilling is spaced at 25 to 50 metre intervals

1. CIM definition standards were followed for the resource estimate.

2. The 2014 resource models used ordinary kriging (OK) grade estimation within a three-dimensional block model with mineralized zones defined by wireframed solids.

3. A base cut-off grade of 0.7 g/t Au was used for reporting resources with a capping of gold grades at 18 g/t.

4. A density of 2.45 g/cm3 was applied.

5. Numbers may not add exactly due to rounding.

6. Mineral Resources that are not mineral reserves do not have economic viability.

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Inferred Resource

Cutoff (g/t Au) Tonnes Gold (g/t) Contained Gold (oz)

0.30 72,611,000 0.65 1,526,065

0.40 53,366,000 0.76 1,304,918

0.50 37,357,000 0.90 1,078,702

0.70 20,816,000 1.15 768,000

0.90 12,933,000 1.36 569,879

1.00 10,127,000 1.49 484,388

EXPLORATION POTENTIAL

• Several high priority gold targets identified to expand the already substantial +1 million gold ounces near surface oxide resource with multi-million ounce opportunities

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ENCHI NEAR SURFACE RESOURCE EXPANSION OPPORTUNITY

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BOIN CLEAR EXPANSION OPPORTUNITY

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BOIN PIT SHELLSOpportunity to expand resources between zones

BOIN GOLD ZONENear surface oxide potential to expand with clear drilling gaps

MULTIPLE UNTESTED TARGETS

• Regional airbone study completed by Condor Geophysics

• Several structures appear to correlate to known mineralization, while many other similar structure patterns remain untested

• Current resource zones only make up a small fraction of total land package – significant opportunity to expand

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PEA OVERVIEW

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Disclosure

The NI 43-101 Preliminary Economic Assessment is preliminary in nature and includesinferred mineral resources that are considered too speculative geologically to have theeconomic considerations applied to them that would enable them to be categorized asmineral reserves, and there is no certainty that the Preliminary Economic Assessment will berealized. The Enchi Gold Project PEA Technical Report is available on SEDAR and wasprepared by Joanne Robinson P.Eng of WSP Canada a professional independent miningengineer registered in Canada and a QP as defined by National Instrument 43-101. Mineralresources that are not mineral reserves do not have demonstrated economic viability.

PEA HIGHLIGHTS

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*2.0% NSR to Kinross Gold and US$10 for each newly defined ounce of gold contained in any new NI 43-101 M&I mineral resource estimate or anyounce of gold mined, whichever occurs first. Such amount shall be payable in cash or, at Pinecrest’s option, in common shares of Pinecrest, providedthat, Pinecrest shall not be entitled to elect to pay in common shares if such issuance would result in Red Back holding more than 20% of the issuedand outstanding shares of Pinecrest. The Ghana government has a 10% free carry and a 5% royalty.

Average Annual Production (Au ounces) 61,749

Metallurgical Recoveries (Oxide/Transition/Sulphide %) 75/75/73%

Strip Ratio (w/o) 3.16

Mine Life (years) 8.7

Pre-Production Capital Costs (US$) $84.4M

LOM Sustaining Capital Costs (US$) $38.6M

LOM Cash Cost per Ounce (US$/oz) $802.03

US$1,200/oz US$1,250/oz US$1,300/oz US$1,350/oz

Pre-Tax Payback (years) 3.4 3.0 2.8 2.7

Pre-Tax IRR (%) 23% 28% 33% 37%

Pre-Tax NPV5% (US$) $61.9M $81.9M $101.9M $121.9M

After-Tax Payback (years) 4.1 3.7 3.4 3.1

After-Tax IRR (%) 17% 21% 24% 28%

After-Tax NPV5% (US$) $35.9M $49.0M $62.0M $75.0M

Enchi Gold Project March 2015 PEA – Base Case US$1,300/oz*

MINED TONNES, GOLD GRADE AND STRIP RATIO

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PRE-PRODUCTION CAPITAL COSTS

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US$84.4M

US$35.6M42%

Processing

US$18.8M22%

Mining

US$4.4M5%

Infrastructure

US$4.9M6%

Engineering & Procurement

US$5.9M7%

Construction

(Indirect)

US$3.1M4%

Owner’s Costs

US$11.8M14%

Contingencies

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SITE LAYOUT

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PROCESS DESIGN

NEXT STEPS

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NEXT STEPS & OPPORTUNITIES

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Complete metallurgical test work (heap leach opportunity)

Advance towards Prefeasibility Study, EIS, additional drilling and evaluate contract mining options to reduce initial capital and enhance already attractive project economics

Expand current resources at Sewum, Nyam and Boin deposits both along strike and at depth

Additional exploration work on high priority gold targets (Eradi, Kojina Hill (1.14 g/t Au over 68metres)

Test multiple new drill targets identified by VTEM airborne survey