Medgold Resources Corporation A European Gold Explorer Target Generation as a Mineral Exploration Model: Medgold’s Grassroot Approach to Serbia Aleksandar Mišković, PhD, P.Geo. October 4th , 2017

Cautionary Notes Forward Looking Statement This presentation may contain forward-looking statements including, but not limited to, comments regarding the timing and content of upcoming work programs, geological interpretations, receipt of property titles, potential mineral recovery processes, and other related matters. Forward-looking statements address future events and conditions and therefore involve inherent risks and uncertainties. Medgold Resources Corp.’s projects in Europe are at an early stage and all estimates and projections are based on limited, and possibly incomplete, data. More work is required before the mineralization and the Projects’ economic aspects can be confidently modelled. Actual results may differ materially from those currently anticipated in this presentation. No representation or prediction is intended as to the results of future work, nor can there be any promise that the estimates and projections herein will be sustained in future work or that the Project will otherwise prove to be economic. Qualified Person: Under the terms of NI43-101, David Clark is Medgold’s Qualified Person. David Clark holds B.Sc. (Hons) and M.Sc. degrees in geology from McGill University, Montreal, Canada, and has been involved in mineral exploration since 1999, with experience in magmatic sulphide Ni-Cu-PGE, intrusion-hosted PGE, and sediment-hosted, orogenic and epithermal precious metal deposits in Canada, USA, Mexico, and Central America. Mr Clark is a member of the Association of Professional Engineers and Geoscientists of British Columbia. David Clark, Consulting Geologist to the Company, is a qualified person as defined by National Instrument 43-101 - Standards of Disclosure or Mineral Projects and has approved the disclosure of the scientific and technical information in this presentation.

Aim Model Strategy Who is Medgold? 3 Aim To become a leading Serbia-focused gold explorer Model Generate early-stage exploration projects within a world-class metallogenic setting Strategy Explore through strategic partnerships with major mining companies

Our approach to Serbia 6 exploration licences granted and multiple applications pending issuance Focusing on the NW-SE trending Oligo-Miocene Belt that is relatively under-explored for Au yet geologically well mapped Generating new targets and re-interpreting historical occurrences – applying new models via geochronology, geochemistry and thermochronology Targeting epithermal gold deposits with a view for porphyry and sediment-hosted precious metal mineralization Belgrade

Funding Exploration In Serbia exploration fully-funded by Fortuna Silver Mines OPTION AGREEMENT (1) US $8m for 70% under the Tlamino Option Agreement Commenced early in 2017 OPTION AGREEMENT (2) Option to select a second project STRATEGIC ALLIANCE Funded of CAD $3m over two years Commenced early in 2016 Regional exploration work fully-funded and awaiting approval Proposed spend commitment of nearly US $20m with just Fortuna Silver Mines

Generation of Prospects, Projects and Targets Prospecting is the critical FIRST step in the mineral exploration process for which the prospector needs: Activity Observation Knowledge Insight Opportunism Persistence Lateral thinking Courage Luck ? 1000 “occurrences“ 100 “prospects“ 10 “projects“ 1 mine 2 “targets“ Regional Survey undertaken by Geological Survey or Exploration Company Area Survey possibly undertaken by Geological Survey and/or Exploration Company Detailed Area Survey undertaken by Exploration Detailed Survey and possible drilling of a few deposits undertaken by Exploration Possible Mine if other factors are favourable Geological survey in mineral exploration 1st year 2nd year 3rd & 4th year 5th – 7th year

Why Serbia? Western Tethyan Metallogeny Emerging mining destination in a favourable geological environment Under-explored for precious metals Excellent exploration potential Mining-friendly government with a history of active mines

Greenfield Project Generation Model Prospect selection & exploration Focus on target zones, licensing and project exploration by detailed geophysics , trenching, drilling, eventual resources definition and PFS Regional prospecting Reconnaissance stream sediment, soil and rock chip sampling; air photo, satellite imagery and remote sensing interpretation Regional AOI selection Permissive tracts likely featuring sources of and traps for mineralization based on litho-stratigraphy, geochronology, regional structural analysis, geophysical and metallogenic data. In the Serbian legal framework this implies applying for multiple AOIs. Historical review Archival data mining; scientific bibliography Conceptual planning Commodity of choice; favorable geological setting and jurisdiction

Overcoming Challenges PROPERTY EVALUATION GENERATIVE EXPLORATION EARLY EXPLORATION FOLLOW UP DETAILED EXPLORATION Commodity selection Tenement application Land acquisition Joint Venture Test priority targets Infill drilling Geological modelling Initial drilling Data base Reconnaissance Mapping Sampling Geophysics Archival search Follow-up drilling Resource estimation Satellite imagery Geological maps Geophysical surveys Metallurgical tests Test anomalies/ Prioritise Feasibility study YES/NO YES/NO YES/NO YES/NO Exploration costs (in $1,000s) 100 - 250 250 - 500 500 – 3,000 >3,000 Number of targets ? - 10 2 - 3 1+

Key to success Search Recognize Scrutinize Analyse Drill Look where no one had searched before Recognize Recognize a new geologically favorable feature, control or association (lithological or structural) Scrutinize Examine bedrock for subtle distal signatures of concealed mineralization Analyse Test subtle non-typical indications of mineralization either overlooked or dismissed as irrelevant Drill Drill early to prove, refine or rethink the model

Early-stage proof of concept: Tlamino Project

Summary Medgold is a project generator targeting high-grade epithermal and porphyry deposits Funding secured via a Strategic Partnership with Fortuna Silver Mines Early proof of concept success with key project identified; Tlamino Gold Project Continuing to explore throughout the Oligo-Miocene metallotect

Contact Details Dan James Medgold Resources Corp. President dj@medgoldresources.com Direct: +44 7972 579188 (UK) Vancouver Head Office: +1 604 801 5432 www.medgoldresources.com A Gold Group Company