Medgold Resources Corp. The European Gold Explorer

Proactive One2One Natural Resources Forum

6th April, 2017 Medgold Resources Corp., April 2017

Cautionary Notes 2

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 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. Medgold Resources Corp., April 2017

Speaker Biography 3

Dan James, President & Director Medgold Resources Corp.

• A geologist with 20 years experience • Graduate from Uni. of Portsmouth in 1997 • Has managed Medgold since being founded in 2011 (6 years) • Previously worked in Turkey, Ethiopia, DRC, Zambia & Tanzania • 5 years working in London on IPO/debt roadshows Medgold Resources Corp., April 2017

Mission Statement

Aim To become a leading European-focused gold explorer

Targeting early- to mid-stage exploration projects in Model mining-friendly jurisdictions

Exploring through strategic partnerships with major Strategy mining companies

4 Medgold Resources Corp., April 2017

Company History & Milestones 5

• Founded in 2011 as a private UK company

• Completed RTO into a listed shell company, on the TSX-v, in December 2012

• Initiated gold exploration in Portugal, Spain and Italy

• Completed acquisition of Klondike Gold (Portugal) in 2014 for 4 gold exploration projects

• Optioned the Valongo Belt projects to Centerra Gold Inc. in 2014

• Expanded Centerra option agreement to include the Boticas (Portugal) project in 2015

• Incorporated subco in and is granted licences in 2016

• Commenced Strategic Alliance with Fortuna in 2016 and Option Agreement in 2017 Medgold Resources Corp., April 2017

Company Structure 6

• Listed on the TSX-V in December 2012 • Ticker: MED-V • Cash: CAD $2.0m • Share Price: $0.21 (April 4, 2017) • Market cap.: $17.7m • Share Structure: 84,514,175 issued capital 97,897,875 fully diluted • G&A: $30k per month

Google Finance Chart. 1 year date range April 4, 2017 Medgold Resources Corp., April 2017

Share Structure 7

Type of Security No. of Shares Exercise Price Expiry Date Potential Dollar Value 1,853,700 $0.12 May 11, 2017 $222,444.00 1,900,000 $0.15 Sept. 20, 2017 $285,000.00 Warrants: 2,900,000 $0.15 Oct. 12, 2017 $435,000.00 SUBTOTAL 6,653,700 SUBTOTAL $987,444.00 3,455,000 $0.15 Feb. 23, 2024 $518,250.00

Incentive Stock Options: 225,000 $0.15 Feb. 12, 2025 $33,750.00 2,550,000 $0.15 June 28, 2026 $382,500.00 SUBTOTAL 6,230,000 SUBTOTAL $934,500.00 TOTAL OUTSTANDING 12,883,700 CONVERTIBLE SECURITIES: ISSUED CAPITAL: 85,014,175 FULLY DILUTED: 97,897,875 Medgold Resources Corp., April 2017

The Medgold People 8

Board of Directors Technical Advisors Simon Ridgway Founder of numerous successful resource Richard Sillitoe World-renowned economic Chairman & CEO companies. Has raised close to $400m to fund Consultant & Advisor geologist. An economic geological projects globally. consultant for over 40 years and has worked in over 70 countries. Best Exploration geologist with 20 years’ experience, Dan James known as a porphyry-epithermal focussed on gold, and worked and lived in President specialist. numerous countries in Africa and Europe. An economic geologist and has been Geologist with over 20 years’ experience. Worked Brent Cook Ralph Rushton working in the exploration and in Southern Africa, the Middle East and Eastern Advisor Director mining business for over 30 years. Europe. Focuses on corporate development and Author of the investment letter IR. Exploration Insights. Jeremy Martin Geologist with extensive South American Director exploration experience. Has been involved in the formation of various AIM-listed companies Management including Horizonte Minerals where he is currently Has been involved in mineral CEO. David Clark QP & Chief Geologist exploration since 1999, in Canada, Exploration geologist with over 30 years’ USA, Mexico, and Central America. Is David Hall a "Qualified Person" in accordance Director experience and worked in over 50 countries. Worked for large majors and founded a number of with National Instrument 43-101. junior exploration companies. Aleksander Miskovic Geochemist with a PhD from the Exploration geologist with over 30 years’ Country Manager - Serbia University of Geneva. Formerly an Michael Skead MIT postdoctoral Research Fellow Director experience and responsible for multiple major gold discoveries in Africa. and a Research Associate with UBC's MDRU leading the Western Tethyan Metallogeny Project. Medgold Resources Corp., April 2017

European Gold Projects 9

Serbia Portugal Medgold Resources Corp., April 2017

Serbia: Country Profile 10

Overview Country Statistics • Under-explored for gold • Population: 7m • Excellent exploration potential • GDP: $98b • Mining-friendly government • GDP Growth: 0.7% Belgrade with active mines • GDP per Capita: $13,700 • Major miners already active; Rio • Royalty on Gold: 3% & Nevsun • Corporation Tax: 15% Nis • Recent major discovery by Reservoir Minerals Medgold Resources Corp., April 2017

Balkans Geology and Major Deposits 11

Area of focused Serbo-Macedonian Belt exploration - Olympias (4 Moz Au) - Skouries (3.5 Moz Au) - Perama Hill (1 Moz Au) - Ada Tepe (1 Moz Au) - Trepcha (9 Mt Pb) Medgold Resources Corp., April 2017

Fortuna Strategic Alliance & JV 12

• Fortuna has invested a total of CAD 3m into Medgold taking 24% of the Company • Proceeds used for Strategic Alliance for target generation work in Serbia • Fortuna optioned the Tlamino Project in March 2017 (covering the Barje-Liska and prospects) - Spending USD 3m over 3 years for 51% - Option to spend a further USD 5m (inc. a PEA) for a total of USD 8m for 70% • Fortuna may option a second property on same option terms as above • Once two projects have been selected Fortuna have no further rights to projects generated

Fortuna is a growth oriented, silver and base metal producer focused on mining opportunities in Latin America. Its primary assets are the Caylloma silver mine in southern Peru and the San Jose silver-gold mine in Mexico. The company is selectively pursuing acquisition opportunities throughout the Americas and in select other areas. Medgold Resources Corp., April 2017

Serbia Projects 13

• Focusing on the Serbo-Macedonia Belt in central and southern Serbia • Belt is under-explored for gold yet geologically well mapped • Targeting epithermal- and porphyry-type gold deposits Cer-Zavlaka Partizani Trbusnica • Exploration licences issued on a first-come first- served basis Vratarnica • 6 exploration licences granted and 8 applications

pending issuance Modra Stena Bistrica Kalna Ljubata Crnook - Medgold Resources Corp., April 2017

Southern Serbia Licences 14

SURLICA-DUKAT RADOVNICA (Fortuna Optioned Licence)

DONJE TLAMINO (Fortuna Optioned Licence)

Karamanica Barje

Liska

Regional geological map of the Southern Serbia Licences, showing the key prospects of Barje-Liska and Karamanica Medgold Resources Corp., April 2017

Regional Geology Overview 15

• Primary regional feature is Crnook Dome • Associated with the dome are low-angle regional-scale detachment faults • Quartz-feldspar porphyry units common (small intrusions and dykes) • Regional extension created series of detachment basins and infilled with fluvial sediments • Mineralization is intermediate epithermal-type • Strong association with Pb-Zn mineralization • Mineralization is both lithologically- and structurally-controlled • Hosted in a zone of flat-lying tectonic breccias (detachment-associated) and likely fed by high- angle basement structures • Tlamino is emerging as a new geological model for the region. Medgold Resources Corp., April 2017

Tlamino Geology 16

Crnook Dome

Tlamino conglomerates Medgold Resources Corp., April 2017

Tlamino Schematic Cross Section 17

BARJE

LISKA

Schematic cross-section of the Barje-Liska prospects, Tlamino Project Medgold Resources Corp., April 2017

Channel Sampling (Barje Prospect) 18

• Channel sampling completed in Nov. ’16 • 132 samples, average grade 8.11 g/t Au

Channel Length (m) Au (g/t) Ag (g/t) AuEq (g/t)* 1 30 6.64 137.1 8.60 2 40 8.32 193.0 11.08 3 11 5.55 189.3 8.25 4 12 8.63 351.8 13.66 5 18 5.71 207.1 8.67 6 14.5 3.23 59.6 4.08 7 7 7.05 82.0 8.22

*Gold equivalent (AuEq) calculated for gold and silver using a gold:silver price ratio of 70:1. See press release dated January 9, 2017 www.medgoldresources.com/s/news-releases.asp David Clark, P.Geo., is Medgold’s Qualifed Person and has approved the disclosure of technical information in this document Medgold Resources Corp., April 2017

Historical Drilling (Liska Prospect) 19

• Historical drilling, completed in the 1970s, demonstrates low- angle Pb-Zn mineralization • Conceptually fits with Medgold’s geological model of detachment-controlled mineralization • Mineralization is open to NE, towards Barje prospect

Long-section of the Liska prospects, Tlamino Project, showing low-angle Pb-Zn mineralization (pink)

The drilling data and illustration is historical and provided for information purposes. Medgold has not completed sufficient work to verify these results Medgold Resources Corp., April 2017

Tlamino Project Photos 20

Mineralization at Barje, showing dissmeninated sulphides and veins within a highly altered tectonic breccia

View looking NW across the Tlamino Project showing the prospects of Barje and Liska. Mountains of the Crnook Dome in the distance Medgold Resources Corp., April 2017

Tlamino Summary 21

• Targeting a low-angle replacement zone, mostly under shallow sediment cover, over a strike of 1.5 to 2km

• Mineralization at outcrop is 70m wide and approximately 30-40m high

• Grade is consistently greater than 5 g/t Au & 200 g/t Ag; locally up to 130 g/t Au & 2,000 g/t Ag

• Using abundant Pb-Zn historical data collected by the Yugoslav government

• New and evolving geological model for the region

• Medgold has a licence coverage of 500 sqkm in this locality Medgold Resources Corp., April 2017

Karamanica Prospect 22

SURLICA-DUKAT RADOVNICA (Fortuna Optioned Licence)

DONJE TLAMINO (Fortuna Optioned Licence)

Karamanica Barje

Liska

Regional geological map of the Southern Serbia Licences, highlighting the Karamanica prospect Medgold Resources Corp., April 2017

Karamanica Geology & Geochemistry 23

• Prospect located approx. 30km to the NW from Liska- Barje prospect

• Large-scale gold-in-soil anomaly identified

• Associated with low-angle detachment fault Carbonate units • Mineralization structurally- controlled and associated with carbonate- replacement

• Evolving geological model 0 500m for the area

Geological map of the Karamanica prospect showing grid-soil geochemistry Medgold Resources Corp., April 2017

Serbia 2017 Program Highlights 24

Tlamino Project (Option Agreement with Fortuna)

• May: Ground geophysics (IP and MAG)

• July-August: Diamond drilling (approx. 2,500m)

Serbia-wide Exploration (Strategic Alliance with Fortuna)

• Target generation and licence acquisition

• On-going reconnaissance, mapping, and grid-soil sampling key prospects

• Aim to generate a quality second project for Fortuna to option Medgold Resources Corp., April 2017

Serbia – Conclusions 25

• A world-class exploration jurisdiction, within a world renown and metal-endowed belt • Within a year Medgold has ‘set up shop’ in Serbia, identified a series of significant prospects, and secured significant and long-term financing with a major partner • Exploration fully-funded by Fortuna Silver Mines • Strategic Alliance (Serbia-wide exploration) • Option Agreement (the Tlamino Project) • 6 licences granted and 8 pending (each approx. 100 sq km) • Developing new regional-scale geological models Medgold Resources Corp., April 2017

Portugal 26

Overview Country Statistics Boticas • Safe, pro-mining jurisdiction • Population: 11m Marrancos • Low-cost of exploration • GDP: $289b (2015) Porto • Excellent infrastructure • GDP Growth: 1.5% (2015) Lagares • Under-explored with significant • GDP per Capita: $28,000 (2015) exploration potential • Royalty on Gold: 4% • Targeting orogenic gold • Corporation Tax: 25% deposits Projects Lisbon • Boticas • Lagares • Marrancos Medgold Resources Corp., April 2017

Centerra JV 27

• Boticas and Lagares projects optioned to Centerra • Terms – Option to earn 51% by spending $3m over 3 years – Option to earn a further 19% by spending $3m over 2 years – TOTAL: 70% for $6m over 5 years. • Centerra vested their 51% in January 2017 • Awaiting decision from Centerra on proposed next steps

Centerra Gold Inc. is a mid-tier gold producer, with a market capitalization of $1.5b, which owns and operates the Kumtor Mine in the Kyrgyz Republic. Kumtor produces 570k oz Au per annum

Drilling at Lagares (2015) Medgold Resources Corp., April 2017

Company Outlook 28

• Strong focus on Serbia for 2017-2018 • IP survey and drilling planned for Tlamino Project, Serbia • On-going target generation and licence acquisitions in Serbia • Continuing exploration on a fully-funded basis and maintaining minimum equity dilution • Currently reviewing new European jurisdictions, within the Tethyan Belt and beyond Medgold Resources Corp., April 2017

Contact Details 29

Dan James President Medgold Resources Corp.

[email protected] Direct: +44 7972 579188 (UK) Vancouver Head Office: +1 604 801 5432

www.medgoldresources.com A Gold Group Company