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Gold Exploration in Serbia INVESTOR PRESENTATION | July 2018 Clickcautionary to Edit Notes Master Title Style

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Gold Exploration in Serbia INVESTOR PRESENTATION | July 2018 Clickcautionary to Edit Notes Master Title Style Click to edit Master title style • Edit Master text styles • Second level • Third level • Fourth level • Fifth level Gold Exploration in Serbia INVESTOR PRESENTATION | July 2018 ClickCautionary to edit Notes Master title style •ForwardEdit Master Looking text Statement styles This• presentationSecond levelmay 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• Thirdand conditions level and therefore involve inherent risks and uncertainties. Medgold Resources Corp.’s projects in Europe are at an early stage and all estimates• Fourthand projections level 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• asFifthto the levelresults 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 BSc (Hons) and MSc 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. 2 ClickInvestment to edit HighlightsMaster title style • Edit Master text styles • Second levelAim Model Strategy • Third level • Fourth level To become• Fifth level a leading gold Generating a pipeline of Exploring through strategic explorer prospective exploration projects partnerships with major mining within a high-quality mining companies jurisdiction Currently have a portfolio of five Success with drill program at Exploration at flagship project is granted exploration license and flagship Tlamino Au-Ag Project fully funded by Fortuna Silver several emerging prospects intersects: Mines 30 m of 5.45 g/t Au and 11 g/t Ag 34 m of 3.11 g/t Au and 28 g/t Ag 26 m of 2.44 g/t Au and 219 g/t Ag 3 ClickCompany to edit Structure Master title style Ticker MED-V Cash CAD $0.5M • EditShare Master Price text styles $0.39 • SecondMarket Cap level $33.7M Tightly held, low risk of dilution • ThirdShares level Issued 89,886,232 • Fourth level 5,820,000 Incentive Stock Options* • Fifth level ($0.15-$0.20 exp. Feb 2028) Fully Diluted 95,706,232 Key Shareholders (64% of the company) Management & Directors 9% Fortuna Silver Mines 24% Adrian Day Asset Mgmt. 9% Plethora Precious Radius Gold Inc. Metals 10% 12% 4 ClickMedgold to edit Team Master title style Board of Directors: • Edit Master text styles Simon Ridgway Dan James Ralph Rushton Chairman• Second & levelCEO President Director • Third level • Founder of numerous successful resource • Exploration geologist with 20 years’ experience, • Geologist with over 20 years’ experience and companies• Fourth level focused on gold focuses on corporate development and IR • Fifth level • Has raised close to $400m to fund projects • Worked and lived in numerous countries in • Worked in Southern Africa, the Middle East and globally Africa and Europe Eastern Europe Jeremy Martin David Hall Michael Skead Director Director Director • Geologist with extensive South American • Exploration geologist with over 30 years’ • Exploration geologist with over 30 years’ exploration experience experience and worked in over 50 countries experience, focused on gold • Has been involved in the formation of various • Worked for large majors and founded a number • Currently Director of Exploration Geology at AIM-listed companies including Horizonte of junior exploration companies Gold Corp. Minerals where he is currently CEO 5 ClickSerbia: to Countryedit Master Profile title style • Under-explored for gold • ExcellentEdit Master exploration text styles potential • •MiningSecond-friendly level government with active mines and long-history of• miningThird level • Major• Fourth miners level already active • Fifth level • Multiple large development projects: Timok Project (Nevsun), Jadar Lithium Project (Rio Tinto) Serbia Statistics 7m $98b 0.7% Population GDP GDP Growth $13,700 3% 15% GDP per Capita Royalty on Gold Corporate Tax 6 ClickBalkans to edit Geology Master and title Major style Deposits • Suture zone • Edit Master text styles running NW-SE • Second level • Third level • Focused on the younger, • Fourth level under-explored • Fifth level belt • Belt is permissive to host large gold deposits Tlamino Project 7 ClickSerbia to Projects edit Master title style • Edit Master text styles • Second level • Third level • 5 exploration• Fourth level licences granted and multiple applications pending issuance • Fifth level • Total licenced area of 500 km2 • Focusing on the northwest-trending Oligo-Miocene Belt of southern Serbia • Belt is under-explored for gold yet geologically well mapped • Generating new targets and re-interpreting historical occurrences – applying new models • Targeting epithermal gold deposits SW Licence Cluster including Tlamino Project Volcanic units of the Oligo-Miocene Belt 8 ClickIssued to Exploration edit Master Licencestitle style in SW Serbia Bozica ortho-metamorphic complex Cadomian granites and ortho-gneiss • Edit Master text styles Carbonate rocks of Vlasina unit • 5 granted exploration licences Cretaceous sedimentary cover of Serbo-Macedonian massif 2 covering• Second 500km level, including the Metamorphic rocks of Crnook Dome Tlamino Project Neogene sediments • Third level Neogene volcanic rocks • Focused• Fourth on detachment level faulting Paleogene plutonic rocks encircling the central Crnook Paleogene volcanic rocks • Fifth level Ljubata West Zone Dome (purple unit) Ljubata Paleogene volcanosedimentary deposits (100%-owned) Post-Cambrian Vlasina unit Pre-Cambrian Vlasina unit • Several new prospects emerging QFP Crnook Quaternary deposits (100%-owned) Radovnica Tlamino conglomerate Upper Paleozoic to Mesozoic sediments of Struma unit (100%-owned) Surlica-Dukat (Fortuna Option) Donje Tlamino (Fortuna Option) Karamanica Zone Barje Zone 9 ClickTlamino to edit Project: Master Highlights title style • Surface channel samples yielded best result of 84 m of 5.60 g/t Au and • 105Edit g/t Master Ag** at text surface styles • •RecentlySecond completed level 7-hole drill program hits significant mineralization in all• 7Third holes level with 734 m drilled at Barje Zone • Best• intersections*:Fourth level • Fifth level • 30 m of 5.45 g/t Au and 11 g/t Ag • 34 m of 3.11 g/t Au and 28 g/t Ag • 26 m of 2.44 g/t Au and 219 g/t Ag • Drilling confirms strong association of mineralization with large IP- chargeability anomaly • IP anomaly measures 1,400 m by 500 m – only partially drill-tested • Further drilling to commence in July 2018 with a minimum of 3,000m • Tlamino project under option to Fortuna Silver Mines: • Spending USD 3m over 3 years for 51% Drilling at Barje Zone, Tlamino • Option to spend a further USD 5m (incl. a PEA) for a total of USD 8m for 70% * see Company press release on July 5, 2018 ** see Company press release on July 18, 2017 10 ClickTlamino to edit Geology Master title style Barje Zone • IntermediateEdit Master-sulphidation text styles epithermal system • •PrimarySecond control level on mineralization is flat-lying Barje Zone regional• Third detachmentlevel fault • Fault• locatedFourth level at contact between two major stratigraphic• Fifth level units • Mineralization hosted within hangingwall of fault and controlled by distribution of tectonic breccia • Gold mineralization hosted in fracture-fill, hydrothermal breccias, and disseminated with sulphides Liska Zone • Previously drilled for Pb-Zn by Yugoslav government in 1980s • Flat-lying zone of disseminated Pb-Zn mineralization associated with the same detachment as Barje Liska Zone • Untested large IP-chargeability anomaly to the southwest of Liska 11 ClickTlamino to edit Photos Master title style • Edit Master text styles • Second level • Third level • Fourth level • Fifth level Sulphide-stringers and fracture-fill mineralization Main mineralized outcrop at Barje (BAR002) Sulphide mineralization and alterationSphalerite Chalcopyrite Silver Sulphide Pyrite 1.0 mm Outcropping mineralization and alteration Thin section photo at Barje in reflected light Breccia with sulphide-rich matrix (BAR006) 12 ClickTlamino to edit Drilling Master Highlights title style • PhaseEdit Master 1 complete: text 734styles m drilling from 7 holes • •SignificantSecond mineralization level intersected in all drill holes• Third level • Mineralization• Fourth level has been identified over an area• ofFifth at least level 300 m by 200 m • Mineralization demonstrates a close spatial correlation with the IP-chargeability anomaly • IP anomaly extends at least 700 m further to the west for
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