MONROE PROJECT

Exploring for a New Sullivan-Type Lead- Deposit in Southeast British Columbia, Canada

September 2018 highway50gold.com TSX-V: HWY FORWARD LOOKING AND CAUTIONARY STATEMENTS

Certain of the statements made in this presentation may contain forward-looking statements within the meaning of the United States Private Securities Litigation Reform Act of 1995 and forward-looking information within the meaning of applicable Canadian securities law. These forward-looking statements or information include, but are not limited to, statements or information with respect to financial disclosure, estimates of future production, the future price of gold, estimations of mineral reserves and resources, estimates of anticipated costs and expenditures, development and production timelines and goals and strategies.

We have made numerous assumptions about the forward-looking statements and information contained herein, including among other things, assumptions about the price of gold, anticipated costs and expenditures and our ability to achieve our goals. Even though management believes that the assumptions made and the expectations represented by such statements or information are reasonable, there can be no assurance that the forward-looking statements or information will prove to be accurate.

Forward-looking statements and forward-looking information by their nature are based on assumptions and involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Company to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements or information. Should one or more of these risks and uncertainties materialize, or should underlying assumptions prove incorrect, actual results may vary materially from those described in forward-looking statements or information. Such risks, uncertainties and other factors include, among others, the following: gold price volatility; discrepancies between actual and estimated production, mineral reserves and resources and metallurgical recoveries; mining operational and development risk; regulatory restrictions, including environmental regulatory restrictions and liability; risks of sovereign investment; currency fluctuations; speculative nature of gold exploration; global economic climate; dilution; share price volatility; competition; loss of key employees; additional funding requirements; and defective title to mineral claims or property. Should one or more of these risks, uncertainties or other factors materialize, or should underlying assumptions prove incorrect, actual results may vary materially from those described in forward- looking statements and information.

Although we have attempted to identify factors that would cause actual actions, events or results to differ materially from those described in forward-looking statements and information, there may be other factors that cause actual results, performances, achievements or events to not be as anticipated, estimated or intended. Also many of the factors are beyond our control. There can be no assurance that forward-looking statements or information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly the reader should not place undue reliance on forward-looking statements or information.

Except as required by law, we do not expect to update forward-looking statements and information continually as conditions change and reference is made to the full discussion of the Company's business contained in the Company's reports filed with the securities regulatory authorities in Canada.. All forward-looking statements and information contained in this presentation are qualified by this cautionary statement.

2 INTRODUCTION

• Highway 50 Gold management has been exploring the East Kootenay region of southeast British Columbia for several decades.

• The target of that activity is a lead-zinc deposit similar to the large, well-known Sullivan Deposit, a former producer located in the same region.

• Ongoing drilling by Highway 50 Gold on its Monroe Project has shown strong similarities to the geological environment at Sullivan.

• Management is enthused by results of its recent core drilling and the prospect that subsequent drilling may discover economic mineralization of a type and style similar to the Sullivan Deposit.

3 SULLIVAN DEPOSIT

• The Sullivan Mine was in production from 1900 to 2001. • Total production: 149,173,608 tonnes. • Mined grade: 6.5% lead, 5.6% zinc and 67 g/t . • It produced: • Lead 8,412,076,665 kg • Zinc 7,944,445,846 kg • Silver 9,264,200,966 grams • Gold 174,863 grams • Tin 9,702,543 kg • Copper 5,106,742 kg • Cadmium 3,094,872 kg • Antimony 413,700 kg • Bismuth 21,880 kg • Indium • The mine was operated by Cominco Ltd. Until Ltd. acquired the company in 2001. • Most mining was from underground with some production from an open pit. • The orebody was tabular in shape: dimensions were 2000 m x 1600 m x 21 m average thickness • The Sullivan is well-known as a world-class SEDEX Pb- Zn-Ag deposit.

Sources: Deposit details from BC MinFile, Sullivan, No. 082FNE052, Geoscience BC Report 2016-19; Photos from BC Archives

4 REGIONAL GEOLOGY

• The Sullivan Mine lies 33 km north of the Monroe Property.

• Both are located within the Purcell Basin, a major lead-zinc-silver-gold metallogenic province.

• Both are hosted by Proterozoic turbidites and argillites of the Aldridge Formation.

• They both are confined by the north and northwest trending intracontinental rift system.

• The graben systems, or second- order basins, are each terminated by east-west trending regional faults.

5 MONROE PROJECT

• The Monroe Property is a contiguous block of 4 mineral tenures totalling 1,282.5 hectares.

• It is road accessible, located about 17 kilometres south- southwest of Cranbrook, BC.

• Previous operators drilled a series of short core holes.

• In recent years, Highway 50 Gold has drilled 8 deep holes totalling nearly 7,600 metres.

Drill Hole Az° Dip° Length

HWY-16-001 160 -80 1,074.4 deepened in 2017 HWY-16-002 0 -90 550.5 abandoned in fault HWY-17-003 240 -75 918.0 HWY-17-004 300 -65 1,051.0 HWY-17-005 200 -80 980.2 HWY-17-006 180 -80 1,071.0 HWY-18-007 026 -75 865.9 HWY-18-008 100 -65 1,084.0 to be deepened Total 7,595.0

6 ALDRIDGE FORMATION

• The Proterozoic age (~1450 Ma) Middle Aldridge Formation comprises up to 2,400 metres of quartzitic turbidites and intervening intervals of laminated siltstone.

• The Sullivan Deposit is considered to be a syngenetic seafloor deposit which occurs just below the contact of the Lower and Middle Aldridge Formations.*

• Recent drilling on the Monroe Property has encountered lead-zinc mineralization at an equivalent stratigraphic level.

✷ * Kennedy & Hoy (2016), Geoscience Report 2016-19, p.4

7 COMPARISON OF SULLIVAN DEPOSIT AND MONROE

The geological setting at both the Sullivan Deposit and the Monroe Property share a number of common characteristics…

8 SULLIVAN DEPOSIT CHARACTERISTICS

Important characteristics of the geological setting at the Sullivan Deposit:

• Host sediments are structurally confined to a graben system.

• Host rocks and graben are terminated by a regional fault and infill sediments are tee’d against it.

• Additional faulting parallel to graben and regional fault has developed a sub-basin.

• Lead-zinc massive sulfide is found in the sub- basin.

9 MONROE PROPERTY – GEOLOGICAL INTERPRETATION

Several geological features in common with the Sullivan Deposit have been interpreted from core drilling on the Monroe Property:

• A Proterozoic graben system confines the host infill sediments.

• The graben system is linked to a major transverse fault (Moyie Fault).

• Conglomerates are tee’d against the Moyie Fault.

• Faulting occurs parallel to the graben and regional faults.

• A massive albite zone in HWY-18-008 suggests an untested zone of lead-zinc sulfide may lie below it.

• A focussed feeder vent complex appears to be controlled by a structural kink in a sub-basin bounding fault.

10 SULLIAN CROSS-SECTION

11 MONROE PROPERTY – GEOLOGICAL INTERPRETATION

12 Monroe Project - Section Looking North

13 CONCLUSIONS – MONROE PROPERTY

• The Monroe Property is under-explored.

• Significant similarities with the geological setting of the former Sullivan Mine area have been identified at the Monroe Property in recent drilling.

• That drilling has intersected disseminated vein style lead-zinc in rocks of the Aldridge Formation at the same stratigraphic level as the Sullivan Deposit.

• Interpretive geology outlines a sub-basin holding the potential for a large massive sulphide lead- zinc deposit.

• The inferred, untested sub-basin is as long as 1,300 metres (NW-SE) by up to 1,150 metres wide (NE-SW).

• The central part of that sub-basin is the target of an upcoming drill program.

• All evidence points to the Monroe Property as a compelling exploration target

14 KEY PERSONNEL

Gordon P. Leask, P. Eng. – President, CEO and Director Mr. Leask has a Bachelor of Applied Science degree in geological engineering from the University of British Columbia and is a Professional Engineer. He is also a founder and former President and CEO of Goldrock Mines Corp. which was acquired by Fortuna Silver Mines in 2016 for $130 million. He was also founder and former director of White Knight Resources Ltd. which was acquired by U.S. Gold Corp. (now McEwen Mining Inc.) in 2007 for $160 million. Mr. Leask is currently a director of Regulus Resources Inc.

John M. Leask, P. Eng. – Director Mr. Leask has a Bachelor of Applied Science degree in geological engineering from the University of British Columbia and is a Professional Engineer. He has been involved with numerous public mining exploration and development companies over his 39- year career. He was a founder and former director of Goldrock Mines Corp. which was acquired by Fortuna Silver Mines in 2016 for $130 million. He was also a founder and former Chairman and President of White Knight Resources Inc. which was acquired by U.S. Gold Corp. (now McEwan Mining Inc.) in 2007 for $160 million. Mr. Leask is currently a director of Regulus Resources Inc.

Bassam Moubarak, CPA, CA. – Director Mr. Moubarak is a Chartered Professional Accountant with expertise in corporate finance, corporate reporting, financial processes, financing and risk management.

Megan Cameron-Jones – Director and Corporate Secretary Ms. Cameron-Jones has acted as a director, officer and audit committee member of junior public companies for over 23 years. She was a past director of Goldrock Mines Corp. and is currently the corporate secretary of Regulus Resources Inc.

Peter Krag-Hansen - Director Formerly a senior Vice-President and director of Canaccord Capital Inc., Mr. Krag-Hansen is currently a director of Fjordland Exploration Inc., a Vancouver-based junior mineral exploration company.

15 CAUTIONARY STATEMENTS

This presentation has been prepared by Highway 50 Gold Corp. (the “Company”). Information included in this presentation regarding the Company’s mineral property has been compiled and reviewed by Gordon P. Leask, P. Eng., the President and Chief Executive Officer of the Company, and a non-independent Qualified Person for purposes of National Instrument 43-101 – “Standards of Disclosure for Mineral Projects” (“NI 43-101”).

For more detailed information regarding the Company and its mineral properties, you should refer to the Company’s filings with the Canadian securities regulators which are available at www.sedar.com.

Although information used in this presentation is believed to be accurate at the time of writing, it may not be accurate when read. For current information please contact the Company. Access to this presentation is provided on the condition that any use of the presentation is at the risk of the user, and the Company and its officers shall in no event be liable in any way for any damages, claims, losses, or liabilities whatsoever arising from or related to the use of this presentation.

This presentation is not to be construed as an offer to sell, or a solicitation of an offer to buy securities of the Company. An offer to sell, or a solicitation of an offer to buy securities of the Company can only be made by a broker registered in all jurisdictions in which such an offer is being made and only if such offer is otherwise made in accordance with all applicable securities laws, regulations, and rules of any kind whatsoever.

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