Yellowknife Gold Project This presentation contains forward-looking statements within the meaning of Canadian securities legislation. All statements, other than statements of historical fact, that address activities, events or developments that the Company believes, expects or anticipates will or may occur in the future including, without limitation, statements relating to proposed exploration and development programs, funding availability, anticipated exploration results, grade of gold and tonnage of material, resource estimates, anticipated gold price and future exploration and operating plans are forwardlooking statements. These forward-looking statements reflect the current expectations or beliefs of the Company based on information currently available to the Company. Forward-looking statements are made based upon certain assumptions by the Company and other important factors that, if inaccurate, could cause the actual results, performances or achievements of the Company to be materially different from future results, performances or achievements expressed or implied by such statements. Such statements and information are based on numerous assumptions regarding present and future business strategies and the environment in which the Company will operate in the future, including the ability to achieve goals. Certain important factors that could cause actual results, performances or achievements to differ materially from those in the forward-looking statements include, but are not limited to future exploration plans and objectives and range estimates for tonnage and grade. Forward-looking statements are subject to a number of risks and uncertainties that may cause the actual results of the Company to differ materially from those discussed in the forward-looking statements and, even if such actual results are realized or substantially realized, there can be no assurance that they will have the expected consequences to, or effects on, the Company. Factors that could cause actual results or events to differ materially from current expectations include, among other things, uncertainties relating to availability and cost of funds, timing and content of work programs, results of exploration activities, interpretation of drilling results and other geological data, risks relating to variations in the gold grade and host rock lithologies; variations in rates of recovery; variations in future gold prices; the state of world gold markets, reliability of mineral property titles, changes to regulations affecting the Company's activities, delays in obtaining or failure to obtain required project approvals, operational and infrastructure risk and other risks involved in the mineral exploration and development business. Any forward-looking statement speaks only as of the date on which it is made and, except as may be required by applicable securities laws, the Company disclaims any intent or obligation to update any forward-looking statement, whether as a result of new information, future events or results or otherwise. Although the Company believes that the assumptions inherent in the forward-looking statements are reasonable, forward-looking statements are not guarantees of future performance and accordingly undue reliance should not be put on such statements due to their inherent uncertainty. This presentation has been prepared under the supervision of Carl Verley, P. Geo., a Qualified Person under National Instrument 43-101. Forward Looking Information
Troy Energy Corp. - Yellowknife Gold Project Location
Yellowknife Gold Project JL 1 7 claims and three mining leases covering 3231 hectares; 90 km north of Yellowknife, accessible by winter road or float plane; Previous work: i) Diamond drilling in excess of 14,000 metres (Main zone); ii) High resolution airborne magnetic and electromagnetic surveys; iii) Initial underground development; Resource potential within a 700 m long section of the Main zone, based on previous drilling, is believed to be in the order of 500,000 tonnes averaging 10 g/t gold to a depth of 200 m; additional gold zones occur on the property; Gold is hosted in dilational vein structures and altered wall rock in a shear zone at contact between metasediments and metavolcanics; Property has well defined targets for: i) high-grade gold deposits; ii) low-grade, large tonnage bulk mineable gold deposits. Proposed work program is designed to confirm resource potential indicated by previous drilling and to test resource potential at other zones on the property. Introduction
Troy Energy: apart from the Main zone, which has a drill indicated resource potential of 500,000 tonnes averaging 10 g/t gold, other drill tested gold showings occur on the property : namely, East zone, Greenlee and Lucky Lake, as well as the Whiskers zone, which consists of gold bearing quartz veins. Adjacent properties : 1. GoldMining Inc s claims and leases to the north and south of Troy s were acquired out of Tyhee Develoment Corp s receivership and consist of the past producing Discovery Mine (approximately 1 million ounces gold from 1 million tonnes), the Ormsby zone and the Goodwin Lake leases. GoldMining has stated that the properties have historical measured and indicated resources of 1,715,000 oz of gold and inferred resources of 478,000 oz of gold that are in part open pit and part under ground resources. 2. Narrow Lake claim has gold showings similar to the Ormsby zone. Yellowknife Gold Project Location Detail
View looking southeasterly across the northwest end of Morris Lake. Yellowknife Gold Project Morris Lake
Lucky Lake Greenlee Main Zone Whiskers Max East Zone Yellowknife Gold Project Property Geology
Exposures of interbedded pelites and psammites of the Burwash Formation Yellowknife Gold Project Sediments
Metavolcanic sequences within the Burwash Formation Yellowknife Gold Project Volcanics
Viking Yellowknife Mine ca. 1950 view of the headframe, dry and mine dump. Same view as above in 2003. Area is overgrown, but buildings and structures remain intact. Again from approximately the same view point, but in 2017. Area was burnt within the last few years. All buildings and structures have been destroyed. Yellowknife Gold Project Oct 4, 2017 Historical Images
Gold was discovered on the property in the spring of 1945. Claims were optioned to Athona Mines (1937) Limited. Athona commenced trenching and drilling in 1945 that lead to the discovery of the Main Zone. In March 1947 shaft sinking commenced. Later that year the Company was reorganized as Viking Yellowknife Gold Mines Limited who then proceeded with the underground work, which included 125 metres of drifting, cross cutting and slashing out of 10 drill stations. Viking closed the camp in late 1947 and did no further work. Yellowknife Gold Project 1946-47 Drilling: Discovery of Main Zone
In 1987 Canamax Resources optioned the property from Viking as well as adjoining property from Aur Resources. In 1988, 5 holes were drilled on the Main zone and then in 1989 a further 10 were drilled on the Main zone and 2 holes in the Max zone. Canamax s results confirmed the previous gold values in the Main zone obtained by previous drilling. However, Canamax then ran into financial difficulties and abandoned their option on the leases and adjoining claims. Yellowknife Gold Project 1988-89 Drilling
Yellowknife Gold Project VK-88-1
Yellowknife Gold Project VK-88-4
Yellowknife Gold Project VK-89-8
Yellowknife Gold Project VK-89-16
In 2003, Copper Hill Resource optioned the leases from Viking Yellowknife Gold Mines and later that year Copper Hill changed its name to Viking Gold Exploration Inc. Then in 2005 Viking Gold embarked on an 18 hole, 2,300 m drill program designed to test the Main zone. As the following sections illustrate, the program was successful. Yellowknife Gold Project 2005 Drilling
Yellowknife Gold Project V-05-05
Yellowknife Gold Project V-05-09
Lucky Lake Greenlee After the 2005 drill program Viking conducted geochem surveys on the claims and leases and contracted Fugro Airborne Surveys to fly a DIGHEM survey over the property in 2006. Other targets: Lucky Lake, Greenlee, Whiskers Max and, East Zone MZ Max 6 East Zone MZ Apparent resistivity profile A-B looking north Yellowknife Gold Project Apparent Resistivity
Lucky Lake Greenlee MZ MZ Total Field magnetic profile A-B looking north Max 6 East Zone Yellowknife Gold Project Total Field Magnetics
In 2007 Viking resumed drilling, testing the southwestern extension of the Main zone with 2,600 m in 13 holes. This work traced the southwestward extension of the Main zone. Yellowknife Gold Project 2007 Drilling
Yellowknife Gold Project V-07-06
Yellowknife Gold Project V-07-13
In 2008, Viking drilled 2,600 m in 4 fences totaling 12 holes. Some of the deeper holes were successful in testing the Main zone to a depth of 225 m below surface. Yellowknife Gold Project 2008 Drilling
Yellowknife Gold Project V-08-17, 18 & 19
Trenching has effectively located the surface trace of the Main zone. Saw cut continuous channel sampling was conducted in limited areas in 2017. Further channel sampling should be conducted in order to estimate gold variability and optimize drill hole spacing. Yellowknife Gold Project Main Zone Trenching
Dr. Derek Wilton examining one of the old trenches, October 2017 Yellowknife Gold Project Trenches
Noel Mitchel cutting a channel sample, September 2017 Yellowknife Gold Project Channel sampling
Main zone East Zone Max Yellowknife Gold Project Main Zone 3D Model
Yellowknife Gold Project Main Zone 3D Model
Preliminary 3D model of the Main zone looking northwest. Long section of the Main zone illustrating gold values (g/t) x length of intercept in metres. Values have been cut back to 60 g/t-m. Trends of mineralization and potential shoots can be interpreted from this diagram. Deepest intercept is approximately 175 m below surface. The zone is still open at depth and along strike. Yellowknife Gold Project Main Zone 3D Model
Work Program: Phase 1: Detailed channel sampling along the main zone in order to determine gold variography for the Main zone and appropriate drill hole spacing, detailed geological mapping to determine structural controls within the Main zone. Phase 2: 3,000 metres of diamond drilling (20 to 30 holes): Main Zone to confirm and upgrade Main zone historical resource to measured and indicated, test for down dip and lateral extensions, and test resource potential of other targets. Estimated cost: Phase 1: Channel sampling: Phase 2: Drilling @ $500/m all-in: Total: $0.2 million $1.5 million $1.7 million Yellowknife Gold Project Program
In Summary: Favorable location, close to Yellowknife (90 km), Established, prolific gold belt, Historic drill indicated resource potential, significantly reduces risk, Other targets on long, persistently mineralized shear zone, Experienced management team: Jim Owen, CPA-CA, CEO and CFO. Rick Wingate, President and Director Ray Hodgkinson, Director Carl Verley, Director Well defined, executable path forward. Yellowknife Gold Project Summary