SolGold : Proactive One2One Investor Forum

FUELLING THE SUSTAINABLE FUTURE WITH COPPER

Corporate Presentation - Proactive One2One Investor Forum

February 2022

LSE & TSX: SOLG

CAUTIONARY NOTICE

Forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of SolGold and/or its subsidiaries to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements. Such factors include, among others, general business, economic, competitive, political and social uncertainties; the actual results of current exploration activities; conclusions of economic evaluations; changes in project parameters as plans continue to be refined; future prices of copper and gold ; possible variations of ore grade or recovery rates; failure of plant, equipment or processes to operate as anticipated; accident, labour disputes and other risks of the mining industry; and delays in obtaining governmental approvals or financing or in the completion of development or construction activities. Although SolGold has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in forward- looking statements, there may be other factors that could cause actions, events or results to differ from those anticipated, estimated or intended. Forward-looking statements contained herein are made as of the date of this presentation and SolGold disclaims any obligation to update any forward looking statements, whether as a result of new information, future events or results or otherwise. There can be no assurance that forward-looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. SolGold undertakes no obligation to update forward-looking statements if circumstances or management's estimates or opinions should change. Accordingly, the reader is cautioned not to place undue reliance on forward-looking statements.

News releases, presentations and public commentary made by SolGold and its Officers may contain certain statements and expressions of belief, expectation or opinion which are forward looking statements, and which relate, inter alia, to interpretations of exploration results to date and the Company's proposed strategy, plans and objectives or to the expectations or intentions of the Company's Directors. Such forward-looking and interpretative statements involve known and unknown risks, uncertainties and other important factors beyond the control of the Company that could cause the actual performance or achievements of the Company to be materially different from such interpretations and forward-looking statements. Accordingly, the reader should not rely on any interpretations or forward-looking statements; and save as required by the exchange rules of TSX and LSE for companies or by applicable laws, the Company does not accept any obligation to disseminate any updates or revisions to such interpretations or forward-looking statements. The Company may reinterpret results to date as the status of its assets and projects changes with time expenditure, metals prices and other affecting circumstances.

The Company and its Officers do not endorse, or reject or otherwise comment on the conclusions, interpretations or views expressed in press articles or third-party analysis, and where possible aims to circulate all available material on its website.

The Company recognises that the term World Class is subjective and for the purpose of the Company's projects the Company considers the drilling results at the growing Alpala Porphyry Copper Gold Deposit at its Alpala project to represent intersections of a World Class deposit on the basis of comparisons with other drilling intersections from World Class deposits, some of which have become, or are becoming, producing mines and on the basis of available independent opinions which may be referenced to define the term "World Class" (or "Tier 1").

The Company considers that World Class deposits are rare, very large, long life, low cost, and are responsible for approximately half of total global metals production. World Class deposits are generally accepted as deposits of a size and quality that create multiple expansion opportunities, and have or are likely to demonstrate robust economics that ensure development irrespective of position within the global commodity cycles, or whether or not the deposit has been fully drilled out, or a feasibility study completed.

Standards drawn from industry experts (1Singer and Menzie, 2010; 2Schodde, 2006; 3Schodde and Hronsky, 2006; 4Singer, 1995; 5Laznicka, 2010) have characterised World Class deposits at prevailing commodity prices. The relevant criteria for World Class deposits, adjusted to current long run commodity prices, are considered to be those holding or likely to hold more than 5 million tonnes of copper and/or more than 6 million ounces of gold with a modelled net present value ("NPV") of greater than USD 1 Billion.

The Company cautions that the Alpala Project remains an early exploration stage project at this time. Despite the relatively high copper and gold grades over long intersections and broad areas, and widespread surface mineralization discovered at the Alpala Project to date, much of which has still not yet been drill tested, the Company has yet to prepare an initial mineral resource estimate at the Alpala Project and any development or mining potential for the project remains speculative. There is inherent uncertainty relating to any project at an exploration stage, prior to the determination of a mineral resource estimate, preliminary economic assessment, pre-feasibility study and/or feasibility study. There is no certainty that future results will yield the results seen to date or that the project will continue to be considered to contain a "World Class" deposit. Accordingly, past exploration results may not be predictive of future exploration results.

From the drilling results at the growing Alpala Porphyry Copper Gold Deposit (only) within the Alpala Project, the Company considers the deposit to have significant resource potential and the data gathered has provided the basis for the estimation of an Exploration Target over the area drilled to date. Initial 3D modelling and grade shell interpolants have outlined an approximate Exploration Target at Alpala that ranges from 620 Mt at 1.05% copper equivalent, using a cut-off grade of 0.4% copper equivalent, to 830 Mt at 0.85% copper equivalent, using a cutoff grade of 0.3% copper equivalent. These estimates equate to an endowment of between 6.5 - 7.1 Mt of contained copper equivalent.

Copper equivalent grades used are calculated using a gold conversion factor of 0.63, determined using a copper price of USD 3.00/pound and a gold price of USD 1300/ounce. Drill hole intercepts are calculated using a data aggregation method, defined by copper equivalent cut-off grades and reported with up to 10m internal dilution, excluding bridging to a single sample. True widths of down hole intersections are estimated to be approximately 25-50%.

The Company cautions that the potential quantity and grade ranges (Exploration Target) disclosed above for the Alpala Porphyry Copper Gold Deposit within the Alpala Project is conceptual in nature, and there has been insufficient exploration to define a Mineral Resource, and the Company is uncertain if further exploration will result in the Exploration Target being delineated within a Mineral Resource estimate.

On this basis, reference to the Alpala project as "World Class" (or "Tier 1") is considered to be appropriate.

References cited in the text:	1.	Singer, D.A. and Menzie, W.D., 2010. Quantitative Mineral Resource Assessments: An Integrated Approach. Oxford University Press Inc.
	2.	Schodde, R., 2006. What do we mean by a world class deposit? And why are they special. Presentation. AMEC Conference, Perth.
	3.	Schodde, R and Hronsky, J.M.A, 2006. The Role of World-Class Mines in Wealth Creation. Special Publications of the Society of Economic Geologists Volume 12.
	4.	Singer, D.A., 1995, World-class base and precious metal deposits-a quantitative analysis: Economic Geology, v. 90, no.1, p. 88-104.
	5.	Laznicka, P., 2010. Giant Metallic Deposits: Future Sources of Industrial Metal, Second Edition. Springer-Verlag Heidelberg.

AN EMERGING COPPER GOLD MAJOR /2

SOLG Presentation - 2022.02.24 (Proactive One2One Investor Forum)

CASCABEL POSITIONED TO MEET RISING COPPER DEMAND

• SolGold's Alpala deposit at Cascabel is one of the most significant copper-gold discoveries in the past decade
• Cascabel will be a large, long life and low-cost mine as copper demand escalates
• • Pre-feasibilitystudy on track for 2022 Q2 will demonstrate investment attractiveness based upon credible assumptions
• SolGold's potential doesn't stop at Cascabel
• • Copper porphyries along the Andean Copper Belt wouldn't just stop at the Ecuadorian border
  • One of the largest tenement holder in Ecuador with a highly prospective pipeline of projects
  • Recent discoveries of Tandayama-Ameríca and Cacharposa deposits demonstrate this adding over 2.5Mt 1 of contained CuEq in the last year

Stage

PEA

PFS

EXP

PFS

PEA

FS

EXP

EXP

EXP

FS

EXP

EXP

EXP

EXP

FS

25

Top Copper Discoveries in 2010-20

Cu (Mt)

Au (Mt Cu eq)

Ag (kt Cu eq)

Mo (Mt Cu eq)

Ni (Mt Cu eq)

Co (Mt Cu eq)

Resourcein

20

Pd (Mt Cu eq)

Pt (Mt Cu eq)

eq. Metal

15

10

Mt Cu

5

-

• Cascabel is the largest independently owned undeveloped copper asset 2
• Cascabel contains ~13% of total copper and ~17% of total gold in new major deposit discoveries in the last ten years 3

AN EMERGING COPPER MAJOR /3

RECOGNISED ASSET QUALITY AND SUPPORT FROM MAJORS

Discoveries				Measured plus Indicated Categories
		Cut-off			Grade			Contained metal
Deposit		Mt
	grade	CuEq	Cu	Au	Ag	CuEq	Cu	Au	Ag
				(%)	(%)	(g/t)	(ppm)	(Mt)	(Mt)	(Moz)	(Moz)
Alpala1		0.21%	2,663	0.53	0.37	0.25	1.08	14.0	9.9	21.7	92.2
	0.80%	442	1.40	0.87	0.86	2.34	6.2	3.8	12.3	33.3
Tandayama		0.16%	233	0.33	0.23	0.16	-	0.77	0.5	1.2	-
-America2
Cacharposa	0.16%	397	0.44	0.35	0.14	-	1.75	1.4	1.8	-
3

Positive & supportive jurisdiction

Endorsed by major miners & institutions

Early mover advantage in Ecuador

Highly prospective new mining province

11.8Mt Cu

24.7Moz Au

92.2Moz Ag 4

Applying the Cascabel blueprint for further discoveries in Ecuador

ANALYST COVERAGE

HOUSE	ANALYST	TARGET PRICE
Hannam & Partners	Roger Bell	105p
BofA Securities	Jason Fairclough	70p
Peel Hunt	Tim Huff	65p
Liberum	Ben Davis	44p
Red Cloud Securities	Timothy Lee	C$1.90
Cormark Securities	Nic Dion	C$1.00
Cantor Fitzgerald	Matt O'Keefe	C$1.00

Excellent infrastructure: water, power and deep seaport

Large concession holder in Ecuador

76 concessions across 14 provinces and >3,000km2 area >325,000 metres drilled to date

Investments from BHP, Newcrest and Franco-Nevada total US$275m

TOP REPRESENTED SHAREHOLDERS 5

BHP Billiton Holdings Limited	13.56%
Newcrest International Pty Ltd	13.48%
DGR Global Ltd	8.90%
Cornerstone Capital Resources	6.85%
BlackRock	5.06%
Tenstar Trading Limited	4.70%
Samuel Holdings Group (Mather)	3.96%

AN EMERGING COPPER GOLD MAJOR /4

REFRESHED BOARD - EXPERTISE TO NAVIGATE FROM EXPLORER TO OPERATOR

Refreshed Board over past 18 months adding diverse experience and increased independence

LIAM TWIGGER	DARRYL CUZZUBBO	ELODIE GRANT GOODEY	KEITH MARSHALL	NICK MATHER
Independent	CEO & MD	Independent NED	Independent NED	NED
CHAIR				3.96% ownership
Perth	Brisbane	London	London	Brisbane

JASON WARD	MARIA AMPARO	KEVIN O'KANE	JAMES CLARE
EXEC DIRECTOR	Independent NED	Independent NED	NED
0.44% ownership	Quito
Brisbane	Vancouver	Toronto

AN EMERGING COPPER GOLD MAJOR /5