brucejack mine tour 2019 · 3. notes to investors. scientific and technical disclosure....

1

VA LU E T H R O U G H G O L D

Brucejack Mine Tour 2019

July 9-10, 2019

2

Cautionary StatementForward-Looking InformationThis Presentation contains “forward-looking information” and “forward looking statements” “future oriented financial information” and/or “financial outlooks” within the meaning of applicable Canadian and United States securities legislation (collectively herein referred to as “forward-looking information”). The purpose of disclosing future oriented financial information and financial outlooks is to provide a general overview of management’s expectations regarding the anticipated results of operations and costs thereof and readers are cautioned that future oriented financial information and financial outlook may not be appropriate for other purposes. Wherever possible, words such as “plans”, “expects”, “guidance”, “projects”, “assumes”, “budget”, “strategy”, “scheduled”, “estimates”, “forecasts”, “anticipates”, “believes”, “intends”, “modeled’, “targets” and similar expressions or statements that certain actions, events or results “may”, “could”, “would”, “might” or “will” be taken, occur or be achieved, or the negative forms of any of these terms and similar expressions, have been used to identify forward-looking information. Any statements that express or involve discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, assumptions or future events or performance are not statements of historical fact and may be forward-looking statements. Forward-looking information may include, but is not limited to, information with respect to: the estimation of Mineral Reserves and Resources, including the updates thereto; realization of Mineral Reserve and Resource estimates; our estimated life of mine and life of mine plan for the Brucejack Mine; production and processing estimates; capital, sustaining and operating cost estimates and timing thereof; estimated economic results of the Brucejack Mine, including net cash flow and net present value; the expected grade of gold and silver production; predicted metallurgical recoveries for gold and silver; geological and mineralization interpretations; development of the Brucejack Mine; the Brucejack Mine production rate and the ramp-up to 3,800 tonnes per day production rate; capital modifications and upgrades, underground development, and estimated expenditures and timelines in connection therewith, including with respect to the ramp-up to 3,800 tonnes per day production rate; our planned mining (including mining methods), expansion, exploration and development activities, including our infill, expansion and underground exploration drill programs and our grassroots exploration program, and the results, costs and timing thereof; timelines and similar statements relating to the economic viability of the Brucejack Mine, including mine life, total tonnes mined and processed and mining operations; production and cost guidance; our operational grade control program, including plans with respect to our infill drill program and our local grade control model; grade reconciliation, updated geological interpretation and mining initiatives with respect to the Brucejack Mine; our operational strategy; our future operational and financial results, including estimated cash flows, and the timing thereof; payment of our debt and other obligations, including the source of funds and timing thereof; the future price of gold and silver; our liquidity and the adequacy of our financial resources; our intentions with respect to our capital resources; results, analyses and interpretations of exploration and drilling programs; timing, receipt, and anticipated effects of, and anticipated capital costs in connection with approvals, consents and permits under applicable legislation; litigation matters; environmental matters; our effective tax rate and the recognition of our previously unrecognized income tax attributes; statements regarding United States dollar cash flows, currency fluctuations and the recurrence of foreign currency translation adjustments; plans regarding our compensation policy and practices; and management and board of directors succession plans. Forward-looking information is subject to a variety of known and unknown risks, uncertainties and other factors that could cause actual events or results to materially differ from those expressed or implied by the forward-looking information, including, without limitation, those related to: uncertainty as to the outcome of legal proceedings; the effect of indebtedness on cash flow and business operations; the effect of restrictive covenants in our agreements; our ability to satisfy commitments under our Offtake Agreement; assumptions regarding expected capital costs, operating costs and expenditures, production schedules, economic returns and other projections; our production and production cost estimates, including the accuracy thereof; commodity price fluctuations, including gold price volatility; the accuracy of our Mineral Resource and Reserve estimates (including with respect to size, grade and recoverability) and the geological, operational and price assumptions on which they are based; our ability to maintain or increase our annual production of gold at the Brucejack Mine or discover, develop or acquire Mineral Reserves for production; dependency on the Brucejack Mine for our future operating revenue; the development of our properties; general economic conditions; the inherent risk in the mining industry; and significant governmental regulations, including environmental regulations; and such other risks, uncertainties and factors as are identified in our Annual Information Form dated March 28, 2019, Form 40-F dated March 28, 2019, most recently filed MD&A and other applicable disclosure documents as filed in Canada on SEDAR at www.sedar.com and in the United States through EDGAR at the United States Securities and Exchange Commission’s (“SEC”) website at www.sec.gov (collectively, the “Pretivm Disclosure Documents”). This list is not exhaustive of the factors that may affect any of our forward-looking information. Our forward-looking information is based on the assumptions, beliefs, expectations and opinions of management on the date the statements are made, many of which may be difficult to predict and beyond our control. In connection with the forward-looking information contained in this Presentation, we have made certain assumptions about, among other things: our business and that no significant events will occur outside of our normal course of business; planned exploration and development activities and the costs and timing thereof; future prices of gold and silver and other metal prices; the accuracy of our Mineral Resource and Mineral Reserve estimates; the geology and mineralization of the Brucejack Project; operating conditions; capital and operating cost estimates; production and processing estimates; the results, costs and timing of future exploration and drilling; timelines and similar statements relating to the economic viability of the Brucejack Project; timing and receipt of governmental, regulatory and third party approvals, consents, licenses and permits; obtaining required renewals for existing approvals, consents, licenses and permits; the adequacy of our financial resources and our ability to raise any necessary additional capital on reasonable terms; our ability to satisfy the terms and conditions of our debt obligations; commodity prices; currency exchange rates and interest rates; political and regulatory stability; requirements under applicable laws; market competition; sustained labour stability and availability of equipment; positive relations with local groups; favourable equity and debt capital markets; stability in financial and capital markets; and such other factors and assumptions as are set out in the Pretivm Disclosure Documents. The foregoing list of assumptions and factors is not exhaustive. Although we believe that the assumptions inherent in the forward-looking information are reasonable, they are subject to significant business, social, economic, political, regulatory, competitive and other risks and uncertainties, contingencies and other factors that could cause actual actions, events, conditions, results, performance or achievements to be materially different from those projected in the forward-looking information. Forward-looking information is not a guarantee of future performance. There can be no assurance that forward-looking information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such information. We do not assume any obligation to update forward-looking information, whether as a result of new information, future events or otherwise, or to explain any material difference between subsequent actual events and such forward-looking information, other than as required by applicable law. For the reasons set forth above, readers should not place undue reliance on forward-looking information.

3

Notes to InvestorsScientific and Technical DisclosureCertain technical and scientific information contained herein relating to the Brucejack Project is derived from, and in some instances is an extract from, the Company’s NationalInstrument 43-101 – Standards of Disclosure of Mineral Projects (“NI 43-101”) – technical report (the “2019 Report”) entitled “Technical Report on the Brucejack Gold Mine, NorthwestBritish Columbia” with an effective date of April 4, 2019 prepared for Pretivm by Ivor W.O. Jones, M.Sc., P.Geo., FAusIMM, CP(Geo) of Ivor Jones Pty Ltd., Mark Horan, P.Eng. ofTetra Tech Canada Inc. (“Tetra Tech”), Jianhui (John) Huang, Ph.D., P.Eng. of Tetra Tech, Hassan Ghaffari, P.Eng. of Tetra Tech, Maritz Rykaart, Ph.D., P.Eng. of SRK Consulting(Canada) Inc., Rolf Schmitt, M.Sc., P.Geo. of Environmental Resources Management, Alison Shaw, Ph.D., P.Geo. of Lorax Environmental Services Ltd., Hamish Weatherly, M.Sc.,P.Geo. of BGC Engineering Inc. (“BGC”), Trevor Crozier, M.Eng., P.Eng. of BGC, Catherine Schmid, M.Sc., P.Eng. of BGC and Ed Carey, P.Eng. of BGC. The 2019 Report is theonly current NI 43-101 compliant technical report with respect to the Brucejack Project and supersedes all previous technical reports. Reference should be made to the full text of the2019 Report, which has been filed with certain Canadian securities regulatory authorities pursuant to NI 43-101. The 2019 Report is available for review under the Company’s profileson SEDAR at www.sedar.com and EDGAR at the SEC’s website at www.sec.gov. Scientific and technical information in this Presentation not contained in the 2019 Report has beenreviewed, approved and verified by Kenneth C. McNaughton, M.A.Sc., P.Eng., our Vice President and Chief Exploration Officer, Lyle Morgenthaler, B.A.Sc., P.Eng., our Chief MineEngineer, Warwick Board, Ph.D., P.Geo, Pr.Sci.Nat., our Vice President, Geology and Chief Geologist, and Nicolas Scarcelli-Casciola, B.A.Sc., P.Eng., our Mine Planning Manager, eachof whom is a “Qualified Person” as defined in NI 43-101.Mineral resources which are not mineral reserves do not have demonstrated economic viability. The estimate of mineral resources may be materially affected by environmental,permitting, legal, title, taxation, socio-economic, marketing, political or other relevant issues. There is no guarantee that all or any part of the mineral resource will be converted intomineral reserves.Technical disclosure set out in this Presentation has not been prepared in accordance with the requirements of United States securities laws and uses terms that comply with reportingstandards in Canada with certain estimates prepared in accordance with NI 43-101. NI 43-101 is a rule developed by the Canadian Securities Administrators that establishes standardsfor all public disclosure an issuer makes of scientific and technical information concerning mineral projects. Unless otherwise indicated, all Mineral Reserve and Mineral Resourceestimates contained in this Presentation have been prepared in accordance with NI 43-101 and the Canadian Institute of Mining, Metallurgy and Petroleum Classification System.Canadian standards, including NI 43-101, differ significantly from the requirements of the SEC under its Industry Guide 7 (“Guide 7”), and Mineral Reserve and Resource informationcontained in this Presentation may not be comparable to similar information disclosed by United States companies reporting pursuant to Guide 7. In particular, and without limitingthe generality of the foregoing, the term “resource” does not equate to the term “reserves”. Under Guide 7, mineralization may not be classified as a “reserve” unless the determinationhas been made that the mineralization could be economically and legally produced or extracted at the time the reserve determination is made and volumes that are not “reserves’should not be disclosed. Among other things, all necessary permits would be required to be in hand or issuance imminent in order to classify mineralized material as reserves underGuide 7. Accordingly, Mineral Reserves estimates included in this Presentation may not qualify as “reserves” under Guide 7. Guide 7’s current disclosure standards normally do notpermit the inclusion of information concerning “Measured Mineral Resources”, “Indicated Mineral Resources” or “Inferred Mineral Resources” or other descriptions of the amount ofmineralization in mineral deposits that do not constitute “reserves” by Guide 7 standards in documents filed with the SEC. United States investors should also understand that“Inferred Mineral Resources” have a great amount of uncertainty as to their existence and great uncertainty as to their economic and legal feasibility. It cannot be assumed that all orany part of “Mineral Resources”, “Indicated Mineral Resources” or “Inferred Mineral Resource” will ever be upgraded to a higher category. Under Canadian rules, estimated“Inferred Mineral Resources” may not form the basis of feasibility or pre-feasibility studies except in rare cases. Investors are cautioned not to assume that all or any part of the“Mineral Resources”, “Measured Mineral Resources”, “Indicated Mineral Resources” or “Inferred Mineral Resource” reported in this Presentation exists or is economically or legallymineable. Disclosure of “contained ounces” in a resource is permitted disclosure under Canadian regulations; however, Guide 7 normally only permits issuers to report mineralizationthat does not constitute “reserves” by Guide 7 standards as in-place tonnage and grade without reference to unit measures. Investors are specifically cautioned not to assume that all orany part of the mineral deposits in these categories will ever be converted into Guide 7-defined mineral reserves. In addition, the definitions of “Proven Mineral Reserves” and“Probable Mineral Reserves” under reporting standards in Canada differ in certain respects from the standards of Guide 7. Accordingly, information concerning mineral deposits setforth or incorporated by reference herein may not be comparable with information made public by companies that report in accordance with Guide 7.Non-IFRS Financial Performance MeasuresThis Presentation includes certain non-IFRS measures. The Company believes that these measures, in addition to measures prepared in accordance with InternationalFinancial Reporting Standards (“IFRS”), provide readers an improved ability to evaluate the underlying performance of the Company and to compare it to information reportedby other companies. Management uses these measures for internal valuation for the period and to assist with planning and forecasting of future operations. The non-IFRS measuresare intended to provide additional information and should not be considered in isolation or as a substitute for measures of performance prepared in accordance withIFRS. These measures do not have any standardized meaning prescribed under IFRS, and therefore may not be comparable to similar measures presented by other issuers. Refer to theCompany’s latest MD&A for further details, including an explanation, discussion and reconciliation of non-IFRS measures.CurrencyUnless otherwise indicated, all dollar values herein are in United States dollars.

4

Time Event

6:00 a.m. 8:30 a.m. Flight: Vancouver to Bowser Airstrip

8:30 a.m. 9:00 a.m. Helicopter safety briefing, fly to Brucejack

9:00 a.m. 9:45 a.m. Safety briefing & site orientationUnderground & surface presentations

9:45 a.m. 11:45 a.m. Safety gear-up Underground Tour

11:45 a.m. 12:30 p.m. LunchGeneral discussion & questions

12:30 p.m. 2:30 p.m. Safety gear-up Mill Tour

2:30 p.m. 3:00 p.m. Helicopter to Bowser Airstrip

3:00 p.m. 6:00 p.m. Flight: Bowser Airstrip to Vancouver

Itinerary

5

Introductions &Safety Briefing

6

Brucejack MineInfrastructure and Logistics

7

Brucejack Mine Site

Mill Building

Valley of the Kings Portal

PowerlineMain Camp

Brucejack Lake

Contact Water Pond

West Zone Portal

Diesel Backup

8

Updated Mineral Resource and Reserve

14 years Mine Life at 3,800 tpd– $2.6 billion NPV5 (at $1,300 gold, post-tax)– 6.4 million ounces of gold Proven & Probable– 16 million tonnes at a grade of 12.6 g/t gold

First 5 years– Over 520,000 ounces average annual gold production– All-in Sustaining Costs: $615/ounce of gold sold– $350 million average annual operating cash flow– $1.7 billion total operating cash flow

First 10 years– Over 525,000 ounces average annual gold production– All-in Sustaining Costs: $535/ounce of gold sold

Source: See News Releases dated April 4, 2019.

9

2019 Production & Cost Guidance

Q1 2019 Actual 2019 Guidance

Gold Production 79,180 390,000 - 420,000 oz

Mill Throughput Rate 3,279 tpd 3,500 tpd

Average Head Grade 8.7 g/t 10.4 g/t

All-in Sustaining Cost1 $868 /oz sold $775 - $875 /oz sold

All stopes above 5.0 g/t are being mined

2019 gold grade not representative of LOM grade

Source: See News Releases dated Feb 14, 2019 & May 2, 2019 and refer to Company’s Financial Statements and MD&A.(1) Non-IFRS performance measure. For reconciliation to IFRS measures refer to the Company’s MD&A.

Brucejack Q1 2019 Production and 2019 Guidance

In Blackout - Q2 2019 Results Out August 1, 2019

10

0

50,000

100,000

Q3 2017 Q4 2017 Q1 2018 Q2 2018 Q3 2018 Q4 2018 Q1 2019$0.0

$20.0

$40.0

$60.0

$80.0

Gol

d O

unce

s So

ld

Mill

ions

USD

Ounces Sold Cash Flow From Operations

Q1 2019 $39.9M

Source: See News Releases dated Nov 10, 2017, Mar 8, 2018, May 10, 2018, Aug 9, 2018, Nov 8, 2018, Feb 14, 2019 & May 2, 2019 and refer to Company’s Financial Statements and MD&A.

Positive Cash Flow Since Start-Up

Cash Flow from Operations

Significant Cash Generation

Sustainably profitable

Significant cash generation since start-up

11

Sustainability at Brucejack

12

Sustainability at Brucejack

2019 Reporting Initiatives

Aligning current sustainability reporting with the relevant reporting standards and terminology (GRI)

Focus on specific material ESG factors

Providing timely and more relevant data

Updating governance and policies

13

High Level of Local Employment

Pretivm Employees as of Apr 2019

Pretivm’s Brucejack Mine Workforce:

93% British Columbia

56% Northwest British Columbia

33% First Nations

BrucejackMine

14

Geology

15

High-Grade Mineralization Corridors Valley of the Kings Zone

West Zone

Au (g/t)5-5050-350350-1500>1500

Underground development

30 m

High-grade Corridors

2019 Drilling –Phase 2 Target Area

2019 Drilling - Phase 1 Target Area

NS

16

High-Grade Mineralization Corridors1350 Level

Silcap

Undergrounddevelopment

High-grade corridor

> 20 g/t drill intersection

Underground visible gold

N

17

High-Grade Mineralization Corridors 1170 Level

Silcap

Undergrounddevelopment

High-grade Corridor

> 20 g/t drill intersection

Underground visible gold

N

18

West Zone Portal

UG Crusher

Truck Loop


Ventilation Raises

Underground Development - Tour StopsView Looking East

Decline

Incline1470

1440

1410

1380

1350

1320

1290

1260

1230

1200

1140

1110

1080

1170

SNIncline

Current Mining Horizons

1200 - 1410

NextMining Horizons

1080 - 1170

1

2

3

4

Underground Tour Stops1) Longhole RC Drill & Sampling2) Electrum & Structure3) Electrum & Structure4) Main Decline

19


Ventilation Raises

Underground Development - Tour StopsView Looking North

E

Decline

Incline 1470

1440

1410

1380

1350

1320

1290

1260

1230

1200

1140

1110

1080

1170

W

Current Mining Horizons

1200 - 1410

NextMining Horizons

1080 - 1170

1

2

3

4

Underground Tour Stops1) Longhole RC Drill & Sampling2) Electrum & Structure3) Electrum & Structure4) Main Decline

20

Grade Control Drilling & Longitudinal Longhole Stoping

21

Operational Grade ControlRC Drilling

22

Longitudinal Longhole Stoping1380 Level

1380-21 W Mined Early Q2

1380-21 E Mined End of Q2

Corridor Continues

1380-21 W Mined Early Q2

N

23


1350-11 Mining Q3

Corridor Continues

N

24


1260 12 NW Mined Mid Q2

1260 12 SE Mining Early Q3

Development allows for mining along structure

1260 12 NW Mined Mid Q2

N

25

Development at March 2019

Development at March 2019


Current Development

N

26

Rate of Development at 2019 Target

27

Ore Flow Direct to Mill

Isometric view facing North

Truck Dump

Crusher

TransferStation

West Zone Portal


28

Mill Building

29

VOK Portal

Mill

Camp

Waste RockDisposal

Contact WaterPond

West ZonePortal

Mill Building

30(1) Production rate increase to 3,800 t/d from 2,700 t/d. See News Release dated Dec 21, 2018.

96.7% GOLD RECOVERY (LOM)

Mill Flow Sheet

Two Thirds of Total Gold Production

One Third of Total Gold Production

31

Mill Building – Internal Layout

32

Bulk Loading System InstalledSignificant Cost Savings

33Process and fire water tanks

Mill UpgradesReplacing Pumps and Piping

34

3,800 tpd Ramp-up On Schedule

Mill throughput and mine production scheduled to reach 3,800 tpd late Q4

Underground Development:– 1,000m/month through the remainder of the year

Mill Upgrades:– Bulk loading system installed– Pumping & piping (Q3 2019)

35

Exploration

36

N

250 m

(1) Outline of Measured, Indicated, and Inferred Mineral Resource, based on NI 43-101 dated Apr 4, 2019(2) Regional exploration drill results; see News Release dated Oct 8, 2015

SU-657

SU-6662.05m @ 2,100 g/t Au

(Inc 0.5m @ 8,600 g/t Au)

9.0m @ 21.87 g/t Au(Inc 0.5m @ 203 g/t Au)

Indicated Resource1

Inferred Resource1

Exploration PotentialDrill Intercepts3

Reserve Expansion PotentialPlan View

~450 m ~1000 m

SU-6541.5m @ 16.9 g/t Au

SU-6680.5m @ 1.37 g/t Au

SU-6581.18m @ 10.75 g/t Au

37

Reserve Definition and Expansion Drilling

Incline

1440

1410

1380

1350

1320

1290

1260

12301200

1140

1110

1080

1170PHASE 1 DRILLING

PHASE 3 DRILLING

PHASE 4DRILLING

PHASE 2 DRILLING

EW View Looking North

38

Flow Dome Zone

SU-666

9.0m @21.87 g/t Au(Inc 0.5m @ 203 g/t Au

2.05m @2,100 g/t Au(Inc 0.5m @ 8,600 g/t Au

OPEN

Anomalous Cu and Mo

SU-657

OPEN

Valley of the Kings

Testing the Continuation of Brucejack Mineralization at Depth

(1) 2019 Underground Exploration Drilling; see News Release dated June 5, 2019.(2) 2018 Underground Exploration Drilling; see News Release dated June 18, 2018 (3) 2015 Regional Drill program; see News Release dated Oct 8, 2015(4) Outline of Measured, Indicated, and Inferred Mineral Resource, based on NI 43-101 dated Apr 4, 2019

2015 Drilling3

2019 Deep Hole Drilling1

107.5m @5.56 g/t Au(Inc 1.5m @185.5 g/t Au)

VU-1787

Underground Development

2018Drilling2

VU-1785

VU-820VU-911

EW

OPEN

Indicated Resource4

Exploration Potential

Measured Resource4

500 m

Au (g/t)0.5-1.01.0-5.05.0-20.0>20.0

Inferred Resource4

39

Flow Dome ZoneValley of the Kings

Testing the Porphyry Potential Below the Valley of the Kings

(1) 2019 Underground Exploration Drilling; see News Release dated July 9, 2019(2) Outline of Measured, Indicated, and Inferred Mineral Resource, based on NI 43-101 dated Apr 4, 2019

3rd 2019 Deep Drill Hole1

VU-2019

Underground Development

2018Drilling

EW

Anomalous Cu and Mo

Indicated Resource2

Measured Resource2

500 m

CSMT Resistivity

Inferred Resource2

250 ohm/m500 ohm/m750 ohm/m1000 ohm/m

Low Resistivity CSMT Anomaly

40

30 km

Regional exploration program; see News Release dated June 5, 2019

5 km2018 Drill Hole Collar

BRUCEJACKMINE

Kirkham ZoneKoopa Zone

Canoe Zone

American Creek ZoneClaim Outline

A6 Zone

Virginia K Zone

Bowser Regional Exploration2019 Drill Target Areas

41

2019 – Strategy and Objectives

Solid Q1 performance provides foundation for 2019

Updated Mineral Reserve and Mineral Resource Estimates

Updated Life of Mine plan Complete ramp-up to 3,800 tonnes

per day Reserve expansion Regional exploration Pay down debt with cash flow Deliver on guidance

42PVG : TSX/NYSEpretivm.com

Questions

43

Shareholding & Analyst Coverage

(1) As of July 5, 2019; ownership calculated on an undiluted basis.(2) As of July 5, 2019. Source: IPREO, Morningstar Inc. & SEDAR.

Top Shareholders(2) (% S/O)

Van Eck Associates 12.3BlackRock Asset Management 8.4Letko, Brosseau & Associates 7.9Rothschild Asset Management 3.7BMO Asset Management 2.9Orion Mine Finance 2.5The Vanguard Group 2.4Franklin Advisors 1.9Pretivm Management 1.9

Equity Structure(1)(shares in millions)

Issued & Outstanding 184.5Fully Diluted 195.9

Market Cap (July 5, 2019) US$1.86B

Analyst CoverageAlliance Global Partners Bhakti PavaniB. Riley FBR Adam GrafBMO Andrew KaipCIBC Anita SoniCanaccord Kevin MacKenzieCiti Alexander HackingCormark Securities Richard GrayGlobal Mining Research David RadclyffeH.C. Wainwright Heiko F. IhleNumis Jonathan GuyRBC Mark MihaljevicRoth Capital Partners Joseph ReagorScotiabank Ovais Habib

44

All-In Sustaining Cost (AISC1)

Source: See News Releases dated May 2, 2019 and refer to Company’s Financial Statements and MD&A.(1) Non-IFRS performance measure. For reconciliation to IFRS measures refer to the Company’s MD&A.

Q1 2019 YR 2019 Guidance

Gold Ounces Sold 81,434 oz 390,000 – 420,000 oz

Total Cash Costs1 $55.8 M $255 - 265 M

Sustaining Capital Expenditures $3.7 M $27 – 30 M

Treatment and Refinery Charges $5.1 M $22 - 23 MAccretion on DRP, Site Share-Based Compensation & Lease Obligations $2.2 M $6 - 7 M

Corporate and Administrative $3.9 M $15 - 16 M

Total AISC1 $70.7 M $325 - 341 M

Per Ounce Sold1 $868/oz $775 – 875/oz

AISC Components

45

Mineral Reserve Estimate (LOM)2019 Update

Category Tonnes(mil)

Gold(g/t)

Silver(g/t)

Contained

Gold(mil oz)

Silver(mil oz)

Proven 1.4 7.2 383 0.3 17.4

Probable 1.5 6.5 181 0.3 8.6

Total P&P 2.9 6.9 279 0.6 26.0

Valley of the Kings1

West Zone2

(1) Source: see news release dated April 4, 2019 (2) Source: June 19, 2014 Feasibility Study & Mineral Reserve Updated, see news release dated December 15, 2016


Gold(g/t)

Silver(g/t)

Contained

Gold(mil oz)

Silver(mil oz)

Proven 2.0 11.2 11.8 0.7 0.7

Probable 11.1 14.3 10.5 5.1 3.8

Total P&P 13.1 13.8 10.7 5.8 4.5

46

Mineral Resource Estimate (LOM)

(1) See News Release dated April 4, 2019(2) See News Release dated June 19, 2014


Gold(g/t)

Silver(g/t)

ContainedGold

(mil oz)Silver(mil oz)

Valley of the Kings – April 2019(1)

Measured 1.8 17.15 16.4 1.0 1.0Indicated 11.9 17.15 15.4 6.6 5.9M&I 13.7 17.15 15.5 7.6 6.8Inferred 3.8 17.07 19.4 2.2 2.4

West Zone – Dec 2013(2)

Measured 2.4 5.85 347 0.5 26.8Indicated 2.5 5.86 190 0.5 15.1M&I 4.9 5.85 267 0.9 41.9Inferred 4.0 6.44 82 0.8 10.6

47

First Quarter 2019Select Operating Results

Source: See News Releases dated May 2, 2019 and refer to Company’s Financial Statements and MD&A.

Three months ended March 31,2019 2018

Ore mined t 308,387 268,339Mining rate tpd 3,427 2,982

Ore milled t 295,122 261,443Head grade g/t Au 8.7 9.1Recovery % 96.8 96.8Mill throughput tpd 3,279 2,905

Gold ounces produced oz 79,180 75,689Silver ounces produced oz 108,234 94,730

Gold ounces sold oz 81,434 68,651Silver ounces sold oz 96,974 84,234The following abbreviations were used above: t (tonnes), tpd (tonnes per day), g/t (grams per tonne), Au (gold) and oz (ounces).

48

First Quarter 2019Select Financial Results

Source: See News Releases dated May 2, 2019 and refer to Company’s Financial Statements and MD&A.

Three months ended March 31,(In thousands of US dollars, except per share or per oz) 2019 2018

Revenue $ 103,119 89,422Earnings from mine operations(1,2) $ 29,152 16,834Net gain (loss) for the period $ 4,166 (8,058)

Per share - basic $/share 0.02 (0.04)Per share - diluted $/share 0.02 (0.04)

Adjusted earnings (loss) (2) $ 16,527 5,797Per share - basic (2) $/share 0.09 0.03

Total cash and cash equivalents $ 50,868 70,540Cash generated from (used by) operating activities $ 39,944 24,719

Total assets $ 1,625,855 1,678,657Long-term debt(3) $ 444,830 292,906

Total cash costs (2) $/oz 686 841All-in sustaining costs (1,2) $/oz 868 1,009

Average realized price (1,2) $/oz 1,257 1,271Average realized cash margin (1,2) $/oz 571 430(1) Refer to the "Non-IFRS Financial Performance Measures" section at the end of this news release.(2) Long-term debt does not include the current portions of the Company’s Loan Facility and Offtake Obligation (each as defined in the MD&A) in the amount of $84,375 as at March 31, 2019. For the comparable period in 2018, long-term debt does not include the current portions of the Company’s Construction Credit Facility (as defined in the MD&A) and Offtake Obligation in the amount of $388,068.