Corporate Presentation January 25, 2019

TSX-V: JG OTCQB: JGLDF Forward-looking Statements

Certain of the statements made and information contained herein is “forward-looking information” within the meaning of the Securities Act. These statements relate to future events or the Company's future performance. All statements, other than statements of historical fact, may be forward-looking statements. Generally, these forward-looking statements can be identified by the use of forward-looking terminology such as “anticipates”, “plans”, “budget”, “scheduled”, “continue”, “estimates”, “forecasts”, “expect”, “is expected”, “project”, “propose”, “potential”, “targeting”, “intends”, “believes” or variations of such words and phrases or statements that certain actions, events or results “may”, “could”, “would”, “might”, or “will be taken”, “occur” or “be achieved” or the negative connotation thereof. These statements involve known and unknown risks, uncertainties and other factors that may cause actual results or events to differ materially from those anticipated in such forward-looking statements. The Company believes that the expectations reflected in those forward-looking statements are reasonable, but no assurance can be given that these expectations will prove to be correct and such forward-looking statements included in this website should not be unduly relied upon by readers, as actual results may vary. In particular, this website contains forward-looking statements, pertaining to the following: capital expenditure programs, development of resources, treatment under governmental and taxation regimes, expectations regarding the Company's ability to raise capital, expenditures to be made by the Company on its properties and work plans to be conducted. With respect to forward-looking statements listed above and contained in the website, the Company has made assumptions regarding, among other things: uncertainties relating to receiving mining, exploration and other permits in Japan; the impact of increasing competition; unpredictable changes to the market prices for gold, copper, and other minerals; exploration and developments costs for its properties in Japan; the availability of additional financing and farm-in or joint-venture partners; anticipated results of exploration and development activities; and the Company’s ability to obtain additional financing on satisfactory terms. The Company’s actual results could differ materially from those anticipated in these forward-looking statements as a result of the risk factors set forth below and elsewhere in this website: volatility in the market price for minerals; uncertainties associated with estimating resources; geological, technical, drilling and processing problems; liabilities and risks, including environmental liabilities and risks, inherent in mineral operations; fluctuations in currencies and interest rates; incorrect assessments of the value of acquisitions; unanticipated results of exploration activities; competition for, amongst other things, capital, undeveloped lands and skilled personnel; lack of availability of additional financing and farm-in or joint venture partners; and unpredictable weather conditions. Although the Company has attempted to identify important factors that could cause results to differ materially from those contained in forward-looking statements, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements. Readers are cautioned that the foregoing lists of factors are not exhaustive. The Company does not undertake to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except in accordance with applicable securities laws. The technical information in this document has been reviewed by Japan Gold’s Chief Operating Officer, Dr. Mike Andrews, PhD, FAusIMM, who has sufficient experience relevant to the style of mineralization under consideration and qualifies as a Qualified Person as defined by National Instrument 43-101. TSX-V: JG 2 The Investment Opportunity

To invest in an experienced gold exploration company, the first foreign company to operate in Japan – a stable jurisdiction with a rich history of and little exposure to modern mineral exploration.

TSX-V: JG 3 Investment Highlights

• First Mover Advantage • 17 projects, 71,529 Ha, 42 historic gold mines • Drilling commencing in Q2 2019 • Inc.: Strategic Investor (19%) • Institutional Investors: RCF Opportunities Fund L.P. and two Japanese Funds • Ltd: Strategic Alliance

TSX-V: JG 4 Why Japan?

• Stable and corruption-free jurisdiction • Revised mining law in 2012 to re-activate the mining industry • Well established regulatory framework, easy access to government officials • Significant historical gold production with good grades, including five significant million-plus-ounce gold producers • Underexplored terrain, limited competition • Extensive, detailed and relevant exploration database

TSX-V: JG 5 A Rich History of High-Grade Gold Production

Hishikari 8.4 Moz

TSX-V: JG 6 Significant Historical Gold Production1

Contained Gold Gold Grade Deposit Location Years of Operation (oz) (g/t) Hishikari* 8,400,000 47.3 S. Kyushu 1985 - Present Sado 2,500,000 5.1 N. Honshu 1601 - 1970 Konomai 2,346,950 6.4 NE. Hokkaido 1917 - 1974 Kushikino 1,800,000 6.7 S. Kyushu 1914 - 1974 Taio 1,200,000 6.3 N. Kyushu 1903 - 1973 Takatama 930,000 10 N. Honshu 1429 - 1974 Yamagano 900,000 17.4 S. Kyushu 1628 - 1955 Chitose 739,450 14.5 SW. Hokkaido 1936 - 1974 Okuchi 710,000 13.6 S. Kyushu 1936 - 1974 Seigoshi 450,000 10.8 Izu Peninsula 1935 - 1976 Bajo 420,000 1 - 5 N. Kyushu 1903 - 1973 Toi 390,000 9.3 Izu Peninsula 1916 - 1965 Teine 353,650 7.5 SW. Hokkaido 1932 - 1971

1All grade and production data from Garwin et al., 2005. *Based on the Sumitomo Metal Mining Co., Ltd. website the Hishikari mine produced 7.6 million ounces at an average grade of 30-40 g/t and is still producing today. TSX-V: JG 7 Hishikari Mine1

Discovered in 1981 In operation from 1985 - Present

Reported production of: 7.6 Moz of gold from 1985 - 2018

Average grade of 30-40 g/t Au

Gold vein in the Hishikari Mine

1Sumitomo Metal Mining Co., Ltd. website. TSX-V: JG 8 Japan Gold Corp. is the first foreign mineral exploration company to focus solely on Japan

JAPAN GOLD’S JAPAN GOLD’S JAPAN GOLD’S VISION STRATEGY STRENGTHS • To unlock the potential • Utilize extensive, detailed • First mover advantage to secure the best project areas including 17 of Japan’s gold exploration databases to projects currently held throughout Japan resources acquire and develop high quality, underexplored • Operating in a stable and corrupt-free jurisdiction with established projects regulatory framework • Identify mineral deposits • Advancing projects in areas of underexplored terrain with known that can be advanced to mineralization and limited competition production • Experienced Team: • Employ a collaborative • Proven track record of identifying mineral deposits and strategy to maximize the advancing them to production potential for new • Proven ability to finance, build and operate resources discoveries companies • Geologists, management and advisors with experience working in Japan

TSX-V: JG 9 Substantial Project Portfolio

71,529 hectares (715.29 sq. km) covering 12 projects prospective for high-grade epithermal gold mineralization and 5 projects prospective for gold-bearing lithocaps, which could indicate the presence of porphyry mineralization

• 17 projects representing 216 accepted prospecting rights applications (350 ha each) covering 42 historic gold mines and workings • 23 Prospecting Rights have been granted at the Ikutahara Project • 9 Prospecting Rights have been granted at the Eboshi Project • 5 Prospecting Rights have been granted at the Ohra-Takamine Project • 4 Prospecting Rights have been granted at the Tobaru KAMITSUE LITHOCAP 12 blocks (4,069 ha) project 12 High-Grade Epithermal Gold Projects: • 12 projects cover areas with known gold occurrences and a history of mining, and are prospective for high-grade epithermal gold mineralization OHRA-TAKAMINE LS Au 5 Lithocap Projects: 11 blocks (3,705 ha) • 5 projects cover areas of known gold occurrences and gold- bearing lithocaps, which could indicate the presence of porphyry mineralization

TSX-V: JG 10 Project Portfolio Highlights: Epithermal Gold Projects in Hokkaido

TSX-V: JG 11 Project Portfolio Highlights: Ikutahara Project

The Ikutahara Project • 56 blocks - 19,114 hectares • 38 Prospecting Rights have been granted to date • The project covers 17 historic mines and workings • Ground magnetics completed over key areas • Regional exploration completed over the majority of the project, including detailed stream geochemical sampling and geological mapping • Aggressive scout drilling program is planned for 2019 including the historic mine areas of the Kitano-o Gold District and the Ryuo Mine

TSX-V: JG 12 Project Portfolio Highlights: Ikutahara Project – Kitano-o Gold District

Prospect – Kitano-o Gold District1

• The Kitano-o, Ikutahara, Showa and Sakinzawa workings are located over an approximate 6 by 2.5 km area in the historic Kitano-o Gold District • Historic production from the Kitano-o gold District is estimated at 96,450 oz of gold mined at an average grade of 5.9 g/t Au • Gold was mined from the surficial elluvial deposits and from veins extending under the sinters KitanoKitano-o- oGold Gold District District • Exploration is focused on potential vein systems 6 by 2.5Ki km that may lay at depth or peripheral to these sinter deposits • Exploration completed in 2017-2018 consisted of geological and alteration mapping and geochemical sampling to develop an understanding of the controls on epithermal gold- vein mineralization • The company will undertake an aggressive scout drilling program to test these targets in 2019

1 Metals Mining Agency of Japan database. TSX-V: JG 13 Project Portfolio Highlights: Historic Kitano-o Mine Drawing (circa 1937)

(Note: Hover over the labels using Google Translate to find the various components involved in the Kitano-o Mine.)

TSX-V: JG 13 Project Portfolio Highlights: Ikutahara Project – Ryuo Prospect

Prospect – Ryuo Mine Area1

• Historic workings were developed on multiple levels on two veins, Jinja and Shouei, with a number of peripheral veins mined nearby

• Maximum sample assays: 474 g/t Au and 1,607 g/t Ag

• Company mapping at Ryuo has identified a 1,000 m by 400 m zoned alteration system

• Aggressive scout drilling program planned for 2019

Jinja Vein Historic channel samples composited along strike show significant high-grade shoot development, including: • 72 m with average grades 40.8 g/t Au and 168 g/t Ag (Average vein width = 0.45 m) • 9 m with average grades 31 g/t Au and 268 g/t Ag (Average vein width = 1.45 m) • 19.5 m with average grades 10.1 g/t Au and 55 g/t Ag (Average vein width = 0.3 m) • 22.5 m with average grades 9.3 g/t Au and 98 g/t Ag

1 Mineralised intervals(Average composited vein from width data in =“Metal 0.34 Mining m) Agency of Japan, March 1990, Geological Survey Report for Fiscal Year 1989, Northern Hokkaido Area B - Metalliferous Deposits Overview”. TSX-V: JG 15 Kyushu Portfolio Highlights:

Kyushu Epithermal Gold Projects and Major Deposits Epithermal Projects:

• Ohra-Takamine: 5 Prospecting Rights have been granted and 6 new prospecting rights applications have been accepted for filing

• Tobaru: 4 Propecting Rights have been granted

Lithocap Projects:

• Kamitsue: 12 Prospecting Rights have been granted

3,705 ha 8.4

TSX-V: JG 16 Milestones Achieved Following Public Listing in September 2016

Team and Financings Property Exploration Operations Portfolio

• Completed a $6.65 million • Entered into a binding Letter • Established a significant • 4 Lithocap Projects strategic financing in Agreement with First property portfolio currently being evaluated December 2018 including Quantum Minerals Ltd. representing 17 projects on by FQML with Japan Gold Goldcorp Inc., RCF (“FQML”) to form a strategic the three largest islands of as Operator Opportunities Fund L.P., alliance advancing 4 lithocap Japan and two Japanese Funds projects • Completed advanced managed by a global • 216 prospecting rights regional exploration investment manager • Signed contract with Sumiko applications have been program and commenced Resources Exploration & accepted, of which 68 have detailed prospect work on • Completed a $5 million Development Co., Ltd (a been granted: several priority targets at financing in August 2017 wholly owned subsidiary of the Ikutahara Project with Sumitomo Metal Mining) to with strategic shareholder, • 38 at the Ikutahara drilling planned for 2019. manage and operate drilling Southern Arc Minerals Project Inc. programs in Japan • 9 at the Eboshi • Completed regional exploration program at the • Acquired 3 compact portable Project • Completed a $7 million Aibetsu Project retail financing in diamond core drill rigs • 5 at the Ohra- September 2016 Takamine Project • Established a base of • 4 at the Tobaru • Confirmed the presence of operations in Hokkaido Project high grade gold by • Formed team of highly • 12 at the Ikutahara completing an initial scout experienced exploration drilling program at the geologists and advisors with Akebono prospect at the experience in Japan Ikutahara Project

TSX-V: JG 17 2019 Objectives

EPITHERMAL PORTFOLIO Goldcorp participating in the Technical Committee to guide advancement • Complete several drilling programs • Develop a pipeline of compelling drill targets • Receive new drilling permits

• Ikutahara Project: • Complete a drill program • Continue detailed prospect work over priority targets to generate new drill targets • Aibetsu Project: • Continue detailed prospect work over priority targets • Progress compelling drill targets to the permitting phase for drill testing • Hakuryu Project: • Complete mapping and geochemical surface sampling to identify drilling targets • Ohra-Takamine Project: • Complete a drill program • Continue project evaluation to identify additional drill targets LITHOCAP PORTFOLIO • Eboshi, Kobui, Minamikayabe, and Kamitsue Lithocap Projects: Japan Gold’s drill compact, portable drill rig • Continue a systematic surface exploration reconnaissance program on each arriving at the Ikutahara Project project managed and supervised by First Quantum Minerals Ltd prior to June 30, 2019. Japan Gold is the Operator for these programs. TSX-V: JG 18 Experienced Leadership Team Board of Directors

John Proust, Dr. Mike John Carlile, Mitsuhiko Robert Dr. Sally Eyre, Murray C.Dir. Andrews, BSc, MSc, FAusIMM Yamada, Gallagher, BSc, PhD (Economic Flanigan, Geology) Chairman & CEO PhD, FAusIMM Executive Vice BA (Int’l Economics) BApSc CPA, CA, CFA President & COO, President, Director Director Director Director Director Director

Has successfully A geologist with over A geologist with over A mining business More than 40 years A geologist and a A Chartered founded and 40 years of 35 years of professional with of mining industry mining finance Accountant and a managed a number experience in experience with both international experience, including professional. Has Chartered Financial of resource exploration. A major and junior experience. Held President and CEO held senior executive Analyst with over 25 companies. Has Founding Director of resource companies, increasingly senior of New Gold Inc., an and director positions years of senior served on the boards Kingsrose Mining including as roles with Sumitomo intermediate gold with a number of management and and held senior and instrumental in Exploration Manager, Corporation, producer, and Vice Canadian resource business operating positions the discovery and Asia, at BHP and overseeing all President Operations companies, including development with numerous development of its and aspects of mining of Newmont Asia as President & CEO experience across resource companies, Way Linggo gold President of the projects from Pacific, overseeing of both Copper North multiple industries for and has directed and mine, also closely Indonesian and exploration through development of Mining and Etruscan both Canadian & US advised public and involved in the Philippines to production, and Newmont’s Batu Resources Inc. companies including private companies development of a subsidiaries of ultimately achieving Hijau mine. CFO of Kepis & since 1986. number of other gold Newcrest Mining. the position of Pobe Financial mines in Southeast Executive Officer and Group Inc., Senior Asia. Held executive General Manager of VP, Corporate exploration positions Mineral Resources Development & CFO with a number of before retiring in of Qwest Investment mineral exploration 2012. Management, and and mining VP of Corporate companies. Development for Adelphia Communications. TSX-V: JG 19 Experienced Leadership Team Executive Team

John Proust, Dr. Mike John Carlile, Andrew Rowe, Takashi Dr. Kotaro Vince Boon, BSc, MSc, FAusIMM CPA, CA C.Dir. Andrews, BSc, MAusIMM Kuriyama, Ohga, Chairman & CEO PhD, FAusIMM Executive Vice Vice President B.Eng. PhD Chief Financial President & COO, President, Director Exploration, Japan General Manager, Chief Engineer Officer, Corporate Director Country Manager Exploration Secretary Has successfully founded and A geologist with A geologist with A geologist with 24 A geologist with Holds a PhD in A Chartered managed a number over 40 years of over 35 years of years of exploration over 42 years of Mining Engineering Accountant with of resource experience in experience with and project domestic and with extensive more than ten companies. Has exploration. A both major and management international permitting and drill years of experience served on the Founding Director junior resource experience in exploration and program (both private and boards and held of Kingsrose Mining companies, Australia and the mining business experience in public companies) senior operating and instrumental in including as Asia-Pacific region. experience. Served Japan. Held the in the resource positions with the discovery and Exploration Has been in increasingly position of sector as both a numerous resource development of its Manager, Asia at managing Japan senior roles with Associate Controller and companies, and Way Linggo gold BHP and Newcrest Gold’s exploration Sumitomo Metal Professor at CFO. has directed and mine, also closely Mining and program in Japan Mining Co., Ltd., Hokkaido advised public and involved in the President of the since 2013. from 1974 until his University in the . private companies development of a Indonesian and . recent retirement Graduate School of since 1986. number of other Philippines as General Engineering. gold mines in subsidiaries of Manager of the Southeast Asia. Newcrest Mining. Global Exploration Held executive and Development exploration Department. A positions with a Director of Teck number of mineral Resources Ltd. exploration and from 2006-2016 mining companies. . . TSX-V: JG 20 Experienced Leadership Team Board of Advisors

Japan Gold’s leadership team and board of advisors bring decades of technical and business experience to the Company, along with a proven track record of identifying mineral deposits and advancing them to Douglas Kirwin, Dr. Steve Garwin, production BSc, MSc, FSEG BSc, MSc, PhD, FAusIMM, FAIG, FSEG

Dr. Steve Garwin has over 29 years of experience as an Doug Kirwin is an independent geologist with 45 years of exploration geologist and is one of the leading authorities international exploration experience. Doug has held senior on porphyry, epithermal and Carlin‐style mineralization in positions with Anglo American and Amax during the the circum‐Pacific region and applies methods of 1970’s and was managing director of a successful structural geology and geochemistry towards gold and international geological consulting firm during the 1980’s base‐metals exploration. and early 1990’s. He has previously worked with Newmont Mining for ten years, including two years as Chief Geologist in Nevada, As Executive Vice President for Ivanhoe Mines Limited, USA. He has been involved with several exploration and Doug was instrumental in the acquisition and discoveries mining projects including the Batu Hijau copper-gold at Oyu Tolgoi, Mongolia. porphyry deposit (where he completed his PhD).

Other mineral discoveries made by his exploration team Dr. Garwin has been instrumental in the discovery of the include the Jelai-Mewet and Seryung epithermal deposits porphyry copper-gold systems at Alpala – Cascabel, in northeast Kalimantan, the Eunsan, Moisan and Gasado northwestern Ecuador and the implementation of gold mines in South Korea, the Moditaung gold deposits in state‐of‐the‐art detailed mapping and logging strategies Myanmar and the Merlin Re-Mo deposit in Australia. for SolGold Plc. These processes have led to accurate drill hole targeting and rapid progression to resource definition. TSX-V: JG 21 Collaborating for Success

Japan Gold believes in strong collaboration with the people and communities in Japan

Executives from Japan Gold Corp. and Sumiko Dr. Ohga, Associate Professor at Hokkaido Mr. Yamada, Mr. Proust, Professor Emeritus Resources Exploration & Development Co., Ltd. University Izawa, Mr. Rowe LOCAL LOCAL LOCAL EXECUTIVES COMPANIES UNIVERSITIES AND ADVISORS

• Japan Gold is partnering with local • Japan Gold has built mutually • Japan Gold has been fortunate to companies, including Sumiko beneficial relationships with both attract Japanese mining executives Resources Exploration & Development faculty and administration at Hokkaido to join the Company’s management Co., Ltd. (a wholly owned subsidiary of University, Kyushu University and team and board of directors Sumitomo Metal Mining Co., Ltd) Akita University • Having these individuals as part of • Partnering with local companies the leadership team of Japan Gold provides Japan Gold with valuable enhances the Company’s knowledge and insight, while capabilities and credibility when contributing to the local economy operating in Japan TSX-V: JG 22 Collaborating for Success

First Quantum Goldcorp Inc. RCF Opportunities Japanese Funds Minerals LTD. TSX: G Fund L.P. managed by a NYSE: GG TSX: FM global investment manager

STRATEGIC ALLIANCE STRATEGIC FINANCING • Binding Letter Agreement • $6.65M raised through a strategic financing with Goldcorp Inc., RCF Opportunities with FQML Fund L.P., and two Japanese funds managed by a global investment manager. • FQML has committed to manage and oversee a “ As an organization, we continuously look for unique systematic surface opportunities within the mining industry. As such, we are excited exploration reconnaissance program of 4 lithocap to be supporting Japan Gold as a first mover into a new phase of projects prior to June 30, Japanese mineral exploration.” 2019. Russ Cranswick, Partner and Head of RCF Opportunities Fund L.P.

TSX-V: JG 23 Strategic Alliance: First Quantum Minerals Ltd.

Evaluation Period: • 4 lithocap projects: Eboshi, Kobui, Minamikayabe, and Kamitsue • FQML is fully funding the 4 project evaluations and Japan Gold is acting as the Operator • Upon completion of the evaluations by June 30, 2019, FQML will have the right to enter into an Option Agreement on any of the 4 lithocap projects

Option Agreement: • FQML must spend a minimum of US $5M per project optioned prior to June 30, 2022 (minimum US $1M annual spend) to earn 51% of a project • Upon earning a 51% interest in a project, FQML has the right to earn an additional 29% interest by solely funding that project until FQML makes a “Decision to Mine”, increasing FQML’s ownership in that project to 80%

TSX-V: JG 24 Share Structure

As of January 25, 2019:

Shares Options Warrants Fully Diluted

113,651,076 11,355,000 12,500,000 137,506,076

• Japan Gold Shareholders: Southern Arc 31.9% Goldcorp 19.9% Totaling: 69.4% RCF 8.8% Japanese Funds 8.8% Public Float 30.6% December 2018:

• Japan Gold completed a $6.65M private placement with Goldcorp Inc., RCF Opportunities Fund L.P., and two Japanese Funds managed by a global investment manager at $0.15 per unit

August 2017:

• Japan Gold completed a $5M private placement with strategic investor, Southern Arc Minerals Inc., at $0.40 per unit

September 2016:

• Japan Gold completed a $7M private placement at $0.40 per share

TSX-V: JG 25 Contact Japan Gold Corp.

Corporate Office Tokyo Office

Suite 650, 669 Howe St. #302 Roppongi Ignoppor , BC 5-9-20 Roppongi, Minato-ku Canada V6C 0B4 Tokyo, Japan 106-0032

Phone: +1 778-725-1491 Phone: +81 (0)3-6550-8735

Attention: Attention: John Proust Andrew Rowe Chairman & CEO Vice President Exploration Japan Country Manager Rafaela Vartuli Investor Relations Associate

Email: [email protected] Website: www.JapanGold.com TSX-V: JG 26 The Historic Numanoue Mine, Hokkaido, Japan

Japan Gold Corp. TSX-V: JG OTCQB: JGLDF

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