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Brucejack high-
grade gold project
Commercial
production target
2017
3
BRUCEJACK PROJECT LOCATION
4
BRUCEJACK HIGH-GRADE GOLD
West Zone
Proven 2.1 15.6 12 1.1 0.8 Proven 1.4 7.2 383 0.3 17.4
Probable 11.5 15.7 10 5.8 3.9 Probable 1.5 6.5 181 0.3 8.6
Total P&P 13.6 15.7 11 6.9 4.6 Total P&P 2.9 6.9 279 0.6 26.0
(1) Source: Feasibility Study and Technical Report Update on the Brucejack Project, dated June 19, 2014 6
VALLEY OF THE KINGS: STOCKWORK
N
S
~0.5 m
Domain 20
30 m level spacing
Maximum of 45 m stope
lengths
15 m widths
Dilution Factors
Primary Stopes: 7%
Secondary Stopes: 15%
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BRUCEJACK MINE:
LIFE OF MINE (18 YEAR)
Valley of the Kings
1500m level
Ventilation Raise
VR4 Ventilation Raise
VR1
Ventilation Raise
VR3
Ventilation Raise
VR5
West Zone
Open 990m level
Open
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MINING: YEAR 1
MINING: YEAR 5
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2015/16 UNDERGROUND INFILL DRILL PROGRAM:
1320, 1310, 1270 AND 1260 DRILL FANS
1310 Drill Bay
1260 Level
1320 Level
Probable Reserves
5-10
10-20
20-60
>60 100m
(1) Source: Feasibility Study and Technical Report Update on the Brucejack Project, dated June 19, 2014 11
2015/16 UNDERGROUND INFILL DRILLING
7.5-METER TO 10-METER CENTERS
1345 Level
200 meter
1260 Level
5-10
10-20
20-60
>60 100m
(1) Source: Feasibility Study and Technical Report Update on the Brucejack Project, dated June 19, 2014 12
2016 UNDERGROUND DRILLING RESULTS:
SECTION VIEW: 426600E 200M WIDE
NE
1345m Development
(2013 Bulk Sample level)
5.0 - 20.0
> 20.0
13
2015/16 UNDERGROUND DRILLING RESULTS -
PLAN VIEW
1310m Drill Bay
VU-565
N
1320m Drill Bay
VU-545
VU-423
< 0.5
0.5 1.0
1.0 5.0
5.0 - 20.0
180 Azimuth
> 20.0
50m
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PROJECT ECONOMICS
15
BRUCEJACK PROJECT PRODUCTION
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UPDATED CONSTRUCTION COSTS
(1) Based on capital cost update (see News Release dated February 17, 2016) and operating cost assumptions from the Feasibility Study and Technical Report Update
on the Brucejack Project, dated June 19, 2014.
(2) Mine Site Capital Costs Include; mine site, mine site process, mine site utilities, mine site facilities, tailings facilities, mine site temporary facilities and surface
mobile equipment. 17
FULLY FUNDED
Financing Structure(1)
Incurred
Costs
To Sept 30, 2015
$66M
Equity $100M
(2) US$540M Financing Package
Loan Facility Announced Sept 2015
$350M
US$350 - 7.5% fixed loan
US$150 stream 8% of production
US$40 equity financing
Equity $40M US$696.8M
Equity Financing(2)
US$146.2M
(1) Based on Brucejack capital cost update (see News Release dated February 17, 2016) and operating cost assumptions from the Feasibility Study and
Technical Report Update on the Brucejack Project, dated June 19, 2014
(2) NPV is discounted to Dec 31, 2015. 19
ALL-IN SUSTAINING COST
TOTAL: $3,149.1
Processing
$19.69
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KEY MILESTONES TO PRODUCTION
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MINE SURFACE FACILITIES
VOK Camp
Portal
Mill West Zone
Portal
Contact Water
Pond
Waste Rock
Disposal
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PROJECT FLOW SHEET
55% 45%
FROM CONCENTRATE
96.7% GOLD RECOVERY (LOM) FROM GRAVITY
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(1) Source: Feasibility Study and Technical Report Update on the Brucejack Project, dated June 19, 2014.
ACCOMMODATIONS
SEPTEMBER 2015
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PLANT SITE LOCATION
- OCTOBER 2015
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CONSTRUCTION ADVANCING
MARCH 2016
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CONSTRUCTION ADVANCING
APRIL 2016
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EXPLORATION
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2015 GRASS-ROOTS EXPLORATION
FLOW DOME ZONE
SU-658
N
0.25 0.5
0.5 1.0
SU-657
0.5m @ 137 g/t Au 1.0 5.0
5.0 - 20.0
SU-661
> 20.0
Previously
SU-666 SU-668 Reported
Drilling
500m
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STOCKWORK GOLD MINERALIZATION
9m @ 21.87 g/t Au
932 941m
2m 2m 0.5 m
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EXPLORATION CORRIDOR POTENTIAL
- 500 METER WIDE SECTION
W E
SU-498
SU-526
0.5m @ 3,874 g/t Au
SU-657
2014 VOK Reserve SU-666
13.6 Mt @ 15.7 g/t Au 19m @ 24.9 g/t Au
Inc: 0.5m @ 752 g/t Au
9m @ 21.87 g/t Au
Inc: 0.5m @ 203 g/t Au
Brucejack Fault
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2015 GRASS-ROOTS EXPLORATION
Brucejack
Valley of the
Lake
N
Kings SU-677
Resource
Flow Dome Zone
SU-671
277m @ 0.88 g/t Au, 15.64 g/t Ag
(includes 8.68m @ 9.94 g/t Au, 90.3 g/t Ag
SU-673
561.5m @ 0.53 g/t Au
(includes 3m @ 6.34 g/t Au
SU-678
SU-675
Bowser Area SU-674
SU-681
SU-685
SU-682
2.28m @ 56.32 g/t Ag
(includes 0.7m @ 86.4 g/t Ag 33
COMMUNITY ENGAGEMENT
Longtime commercial
relationship with Ski Km lax Ha;
Cooperation and Benefits
Agreement signed with Nisgaa
Nation
Capex funded
Detailed engineering and
procurement continuing
In-fill underground drill
program
Complete 330-person camp
Mill construction
Complete transmission line
Underground development
Grass-roots exploration
drilling
35
SHAREHOLDING & ANALYST COVERAGE
Top Shareholders(4) (% S/O)
Silver
Silver Standard Resources 9.61
Standard,
9.6% Zijin Mining 8.72
Black Rock Asset Management 5.03
Retail, 31.7% Van Eck Associates 4.96
Orion & Blackstone 4.77
Liberty Metals & Mining 4.70
Management, Institutions, Sun Valley Gold, LLC 2.34
2.0% Zijin, 48% M&G Management 2.24
8.7% Pretivm Management 2.02
Connor, Clark & Lunn 1.99
Mackenzie Financial 1.82
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