Joe Ovsenek

We have 25 24.9 million oz of gold in the indicated category, another 4 million oz of gold in the inferred category.

we still have some really nice shapes, and we're still sitting at 3.4 million ounces of indicated gold, and another 2.4 of inferred.

we're still looking at 5. >> [clears throat] >> 8 million ounces of gold. There's a There's a lot of gold here in in the uh >> [clears throat] >> Excuse me, indicated category. Another 2.6 million ounces in the inferred.

Our current mineral resource, about 3 and 1/2 million oz gold equivalent gold and copper. 2 million oz gold, 864 million lbs of copper.

We have roughly 3 12 million ounces gold equivalent. That's made up roughly 2 million ounces gold and just under 900 million pounds of copper.

over that 14.2ear 2-year life of mine. We're currently comp contemplating producing 1.55 million ounces of gold, 213,000 tons of copper, and about two 2 and a2 million ounces of silver.

We have other prospects where we've discovered gold. Uh we haven't had the ability to follow up on it, but we've discovered gold uh in other spots along the fault on our claims.

We're looking to get that up to about 3 to 3 and 1/2 million oz of gold and a billion to a billion and a half pounds of copper.

Started out about 15,000 meters planned. I think we're going to probably end up closer to 25, maybe 30. It's going very well.

we're looking to increase that number where we're targeting 3 to three and a half million ounces of gold and billion billion and a half pounds of copper.

it is a world-class gold copper silver deposit.

when I speak to gold equivalent, I'm speaking of gold and copper and that's what we have at our Gabbs project.

mining the oxide mineralization gold, copper, silver oxide

we have your 24.9 million ounces of uh gold at85 g per ton and another 4 million ounces of inferred gold at 1.43 43 gram per ton

come up with a 2 to 300 oz 200 to 300,000 oz gold producer for you know, 20 years plus.

we've got some studies underway now on the mining side where we can look to increase that from 9 million tons a year to 12 million tons a year

we'd like to get closer to 150,000 ounces of gold a year and 45 million 50 million pounds of copper a year.

which has a lot of value, especially at $5,000 an ounce.

If you look at spot at spot prices right now, our rate of returns over 100%.

It was a 9 million ton per year mine producing roughly 110,000 ounces of gold a year, 33 million pounds of copper over 14 years on average.

life of mine production [clears throat] sustaining capital costs. So those are all the costs you know once we start production to get us into production is 3827 382.7 million to take us through the mine life of 14.2 years we need to spend an additional $571.8 $8 billion.

$382.7 million our initial capex to uh construct the mine. That's the heat bleach at 9 million tons a year.

Our NPV5 is 3 billion plus. Our NPV15 is around 1.5 billion.

robust 33.8% rate of return NPV15 $298 million. And then if we look at spot at the time, they're about a thousand bucks lower than where we are today on gold uh at 38.85. You know, we're we're still 77.5% irr almost a billion of NPV 15% discount and an NPV5, your traditional discount rate, 5% for a gold project. We're at two and a4 billion. Now, I ran the spot numbers uh this morning. you know, gold's just under 5,000 bucks. It was about 4,900 when I ran it. It's come up since then, but you know, we had 108% IRR. Um, NPV15 was roughly 1.5 billion and the NPV 5, a 5% discount rate, was close to $3.5 billion.

Well, first off, we've got good production. 109,000 oz of gold on average over 14-year mine life plus 33 million lbs of copper being produced.

roughly just under 110,000 ounces of gold on average. Uh 15,000 tons of copper. To put that in in perspective, 15,000 tons of copper is roughly 33 million pounds of copper. So good good good size uh bit of copper production from Gabs. And then a little bit of silver, 175,000 ounces of silver.

If you look at spot at spot prices right now, our rate of returns over 100%.

you can see that our paybacks actually a bit quicker, almost the same.

So, you know, we could potentially raise two 250 million bucks from a royalty.

Have a budget about 14 15 million Canadian.

Um quick look at our market capitalization, um couple hundred million Canadian.

current cash, we've used some of this cash. We've had some wards exercised, but we're still north of 10 million on the cash side.

no plans to run out and raise money right now.

from what I understand, that should be completed by the end of this summer.

we want to come up with a maiden resource from this summer's work for another another deposit on our ground

So, 2026, we're going to get a lot done, get that feasibility done. Um we're going to push hard to get it in 2027 so we can break ground in 2027.

We'll be drilling through I I expect May June

we'd like to get a resource estimate out by end of the summer

As part of that feasibility, we've got some infill and expansion going on, drilling going on with a target of roughly 5 million ounces gold equivalent.

We should get a decision on this in the next couple months as to what production rate we're going to focus on for the feasibility study.

The idea is let's get that metallergy finished this quarter. So the target is to have the metal energy wrapped up by the end of March 2026. It may drag a bit into April... The target is to get that done by the end of March... and if it looks good, let's push ahead with a preliminary economic assessment with a plan of getting that completed by sometime this summer.

our PEA where target is to get that completed this summer.

Target is to get that completed by the end of this year.

that allow feeds right into our schedule to have that feasibility done by year end.

late 2028, early 2029. The critical uh critical path for production for us is the environmental permit.

we could be breaking ground in late next year and that that's our target.

still pushing to get our permit this year. I I think we're on track to do that.

we're located in the Golden Triangle up in Northwest British Columbia.

uh we're advancing our Gabbs project in Nevada through the feasibility.

our Gabs project in Nevada

our focus is on advancing our GAPS project in Nevada

our Treaty Creek project is located in the Golden Triangle. That's up in northwest British Columbia.

we're located in the Golden Triangle up in Northwest British Columbia.

uh west-central Nevada. If you look at the little small map up in the upper left corner, you can see Reno.

our Gabs project in Nevada

Gabs, it's located in West Central Nevada. We're about a 2-hour drive on pavement from Reno.

the government of British Columbia came out uh with with the mines branch of the government of British Columbia came out with a decision that they were not going to make a decision on granting that permit for the development of those tunnels until A they a Seabridge reached an agreement with Tudor

we have good support from the local First Nations up in the area where we're in the First Nations very commercial. They want to know, yeah, you're going to do things right, but you know, if if it contributes to their economy and and the wealth of their nation, they're all in.

Um we're going to push hard to get it in 2027 so we can break ground in 2027.

We filed our management uh our mining plan of operations. Um, I've had some meetings with the BLM, Bureau of Land Management in down in Nevada and and that's coming along well

BC very focused on on mining and believing that's a path for the future for the province. Uh, truly making it a tier one mining jurisdiction and we have good support from the local First Nations

We completed Uh we took our Brucejack mine from discovery in 2009 through to our first gold first gold pour in June of 2017.

he's built six minds before he said recent transaction they did

We've got uh five of us all work together at first at Silver Standard and then at uh PR resources... and uh we know what it takes to move a project from uh discovery through to production in in short order.

Our team discovered, built, and operated that mine.

Preium Resources we our team discovered and built the Bruce Jack mine in northwest British Columbia.

We worked together at Silver Standard. um built Silver Standard into now what it is known as is SSR Mining, a major gold producer.

the mine we built Bruce Jack Mine is about 15 kilometers south of Tutor uh our property. Um KSM we dealt with the guys at Seabbridge while we were at Predium.

our team. And and that mine is literally 15 km south of our Treaty Creek project. So we know the area. We we know the infrastructure. We know the First Nations and we know the local communities and the government.

This management team's been together some of us have been together since the mid to early 90s.

Ken Ken and I have worked together since the u mid90s. Michelle joined us in the early 2000.

management owns just under 16% of the company.

We own 50% of the 15% of the company management and the board

We've designed our PEA around a 9 million ton per year production processing rate. We're looking at increasing that up to 12 million tons per year.

we're running a bunch of trade-off studies. Okay, what's the optimum or optimal uh tonnage that we should be processing?

we're thinking, why don't we expand our production rate from 9 million tons a year, let's add another third onto that, go up to 12 million tons a year.

As part of the feasibility study, one of the things we're looking at is moving this uh start of mill production, year six, moving that up to year three.

Can we outline enough gold and that say three three grams per ton gold to come up with a nice starter mine producing 250 300,000 ounces of gold a year.

we did that at $125 and $175. And so you know the base case was at $50.

it's going to be a long hole stoope 8 to 10,000 tons a day to give you some rough parameters of what we're looking at to start with.

we went from say 450 500 bucks about 450 bucks a meter. We got underground, we were drilling for about 200, $225 a meter.

the shortest route possible goes right through the upper part of our deposit, impacts about 5 million oz of gold, which has a lot of value, especially at $5,000 an ounce.

The critical uh critical path for production for us is the environmental permit.

Right now we're limited to four or five months a year on surface drilling. So get underground, drill all year round, get the infill drilling done... you don't want to be shoveling snow constantly... last time we worked up there is 22 meters

It's a question of putting the mine plan on it, merging that in with our metal energy and you know coming coming up with flowheet.

if you're mining that higher grade, you you want to have continuity so you can go in, set up your stoopes, and and you know, when you mine them, you're getting the ore that you expected to have there.

We're at 85% gold, 67% copper. We have a feasibility study metallurgical program going on right now. We think we can bump up these oxide recoveries somewhat. Uh they're getting close to to top end, but we think there's a little room for improvement there. And then on the mill side, you know, we're 94.5% gold recovery, 79.9% copper recovery.

we feel Treaty Creek has the potential to be a 300,000 ounce gold producer. 250 300,000 ounce gold producer. That's that's like for most major gold companies that's a tier one asset

We have an 80 We have an 80% interest in Treaty Creek.

management owns 15%.

Eric Sprat you know everybody knows Eric Sprat the big investor in in these gold gold projects um a big gold bull holds 14% of the company

a big gold bull holds 14% of the company and and has participated in our last finance few financings so uh a believer in the project and a believer in gold

we have an 80% interest in the project.

management is aligned with shareholders owning over 16% of the company.

So quick look at our share structure 409 million shares outstanding

262 million shares out, 334 full fully diluted.

capital structure roughly 400 and change million shares outstanding