JANUARY 2020 Johnson Tract, Alaska Gold (Zn-Cu) · 2020-01-31 · *Estimated True Width (“ETW”) measured from cross sections Length-weighted intervals are uncapped and calculated

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Johnson Tract, AlaskaGold (Zn-Cu)AMEBC – Roundup Presentation

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Forward Looking StatementsForward looking statements: This presentation contains certain “forward-looking information within the meaning of Canadian securities legislation and "forward-looking statements" within the meaning of the

United States Private Securities Litigation Reform Act of 1995 (collectively "forward looking statements") concerning HighGold’s plans for its properties, operations and other matters. Forward-looking

statements include predictions, projections and forecasts and are often, but not always, identified by the use of words such as “seek”, “anticipate”, “believe”, “plan”, “estimate”, "forecast", “expect”,

"potential", "project", "target", "schedule", budget" and “intend” and statements that an event or result “may”, “will”, “should”, “could” or “might” occur or be achieved and other similar expressions and

includes the negatives thereof. All statements other than statements of historical fact, including, without limitation, statements regarding potential mineralization, the estimation of mineral resources, the

realization of mineral resource estimates, interpretation of prior exploration and potential exploration results, the timing and success of exploration activities generally, the timing and results of future

resource estimates, permitting time lines, metal prices and currency exchange rates, availability of capital to HighGold, government regulation of exploration operations, environmental risks, reclamation,

title, statements with respect to the future price of gold and other metals, and future plans and objectives of HighGold are forward-looking statements that involve various risks and uncertainties. There can be

no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. Forward-looking statements are based on a

number of material factors and assumptions. Important factors that could cause actual results to differ materially from HighGold’s expectations include actual exploration results, changes in project

parameters as plans continue to be refined, results of future resource estimates, future metal prices, availability of capital and financing on acceptable terms to HighGold, general economic, market or

business conditions, uninsured risks, regulatory changes, defects in title, availability of personnel, materials and equipment on a timely basis, accidents or equipment breakdowns, delays in receiving

government approvals, unanticipated environmental impacts on operations and costs to remedy same, and other exploration or other risks detailed herein and from time to time in the filings made by the

Company with securities regulators. Although the Company has attempted to identify important factors that could cause actual actions, events or results to differ from those described in forward-looking

statements, there may be other factors that cause such actions, events or results to differ materially from those anticipated. There can be no assurance that forward-looking statements will prove to be

accurate and accordingly readers are cautioned not to place undue reliance on forward-looking statements.

2HIGH GRADE GOLD IN NORTH AMERICA

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Two Exceptionally High-Grade Gold Assets

Munro Croesus Timmins region, Ontario

Croesus Mine Sample (>10,000 opt)

3HIGH GRADE GOLD IN NORTH AMERICA

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Johnson Tract Southcentral Alaska

Drill Intersections:

• 107.8m @ 12.4 g/t, 7.1% Zn, 0.9% Cu

• 71.4m @ 20.9 g/t Au, 5.2% Zn, 1.2% Cu

True width ~50% of drilled length

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5%5%

13%

8%

6%

5%3%9%

46%

Capitalization Structure

HIGH GRADE GOLD IN NORTH AMERICA 4

Issued & Outstanding 40.0 million

Warrants 13.9 million*

Options 2.7 million

Fully Diluted 56.6 million

Market Capitalization ~C$50M

Cash (no debt) C$14M

Share price since start of trading – low of $0.78 and high of $1.89

*Warrants: 8.5M @ $0.70 expiring 09/2021, 4.9M @ $2.15 expiring 06/2023 and 1M founders @ $0.45 expiring 08/2024 (escrowed)

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Other

Major Shareholders

Electrum PE Fund

Senior Gold Producer

Other Institutional

Rob McEwen

Management

As of January 10th (began trading Sept 23)

Close Associates

Franklin Gold Fund

Sprott (Partnership Fund)

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StewardshipRespect and Responsibility

Committed to protecting and benefitting the regions in which we operate

People – Environment – Sustainability – Legacy


Alaska Facts

• One-fifth the size of the entire lower 48

• Land Ownership:

• 10% Native

• 24.5% State

• 65% Federal

• <1% Private

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History of Alaska and Native Land Claims

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• 1867: Alaska purchased from Russia for $7.2 million

• 1959: Alaska becomes 49th state of the United States• Statehood Act outlined the types of public lands that the state could select but did not address

land claims by Alaska’s indigenous peoples

• 1960’s: Oil Discovered on the North Slope!

• 1971: Alaska Native Claims Settlement Act (ANCSA)• Entirely different than any previous federal Indian policy. ANCSA extinguished aboriginal

land claims in Alaska and mandated a for-profit model with land title under corporate ownership by Alaska Native shareholders


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Regional Alaska Native Corporations

• ANCSA divided Alaska into twelve regions defined by the common heritage and shared interests of the indigenous peoples within each geographic area

• 12 Regional Corporations created that could select lands within their region

• Corporations owned by Alaska Native shareholders

JohnsonTract

CIRI

Red Dog

Donlin


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Red Dog and NANA – a model of success

NANA has received >$1 billion in proceeds since mining began

Employment for NANA shareholders

Integration of subsistence cultural values

Source - NANA presentation (internet)


Cook Inlet Region, Inc. Mining Lease

• Johnson Tract area selected by CIRI under ANCSA for its mineral potential

• Lease includes:

• 10-year Exploration term

• 5-year Development term

• Production term

• Expenditure requirements and annual lease payments

• Back-in rights (up to 25%) and NSR royalty

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An Alaskan Native Corporation

CIRI’s Mission is to promote the economic and social well-being and Alaska Native heritage of its shareholders, now and into the future, through prudent stewardship of the company’s resources, while furthering self-sufficiency among CIRI shareholders and their families.


Johnson TractSouthcentral, Alaska

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Regional Location MapCook Inlet and

Johnson Tract Area


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Johnson Tract10 Miles to Tidewater

camp

JT Deposit

prospect

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Deposit & Camp on Private Land – Includes Road & Port Easement Rights

Johnson Deposit

Camp & Airstrip

Kona Prospect

Difficult Creek Prospect

Johnson Tract

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Historical Work

• 88 drill holes for 26,840 meters (1982-1995)

• Historical resource (>0.5 oz/t gold equivalent*)

• Major engineering & mining studies to direct ship ore to Premier mill in Stewart, BC (Westmin Resources, 1994/95)

• Emphasis on engineering over exploration; substantial exploration upside, with multiple underexplored satellite prospects

* Historical estimate prepared prior to establishment of NI 43-101guidelines and reporting standards; for more info see Technical Report forJohnson Tract Project, June 2019 HIG

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early 90s drill pad, source J. Proffett

“Inactive over several gold cycles…last work prioritized engineering over exploration”

Off-the-market and no work for 25 years

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2019 Drill Results

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*Estimated True Width (“ETW”) measured from cross sectionsLength-weighted intervals are uncapped and calculated based on a 2 g/t gold equivalent (“AuEq”) cut-off and less than 5 meters (drill length) of dilution of below cut-off gradeGold Equivalent (“AuEq”) based on $1250/oz Gold, $16/oz Silver, $1.20/lb Zinc, $3.00/lb Copper, $1.00/lb Lead and does not consider metal recoveries (same assumptions as June 2019 NI43-101) ** Twin of historic hole for validation purposes

Drill HoleFrom To Length ETW* Gold Silver Copper Zinc Lead AuEq*

(meters) (meters) (meters) (meters) (g/t) (g/t) % % % (g/t)

JT19-082** 153.2 261 107.8 53.9 12.42 8.9 0.88 7.11 1.64 19.55

Incl. 156.2 184.6 28.4 14.2 35.15 17.0 1.40 7.45 3.13 44.30

JT19-083 75.9 106.6 30.7 23.0 2.75 8.8 0.29 5.47 3.00 8.59

JT19-085** 67.8 127.0 59.2 31.4 8.16 5.9 0.39 8.80 0.72 15.06

Incl. 68.6 79.5 10.9 5.8 33.06 9.7 0.57 6.37 0.02 38.33

JT19-086 48.1 95.7 47.6 33.7 2.36 4.8 0.40 9.68 0.13 9.52

JT19-088 128.0 225.5 97.5 48.8 5.93 4.2 0.46 3.86 0.62 9.62

Incl. 135.5 158.0 22.5 11.3 12.59 4.9 0.36 3.65 1.07 16.24

JT19-090 253.9 329.0 75.1 40.6 10.01 6.0 0.57 9.36 1.11 17.80

Incl. 308.0 328.0 20.0 10.8 29.02 7.3 0.67 3.53 1.22 33.20

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MineralizationHigh-Grade Au, Zn, Cu, Pb, Ag

• Polymetallic gold deposit

• Shallow submarine volcanic host rocks – Jurassic

• Epithermal to VMS characteristics

• Tabular silicified body with a stockwork of quartz-sulphide veins and brecciation, surrounded by widespread zone of anhydrite

• Potential analogues (Hod Madden or feeder to Eskay-like VMS)

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Stratigraphy


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Stratigraphy

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Alteration & Mineralization Model

OUTER ZONESer-Py-±Chl-±Clay

ANHYDRITE ZONE

SILICIFIED ZONE

GOLD ZONE

ZnZn trace metals

trace metals

Au-Cu-Zn(Ag-Pb)

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OUTER ZONESer-Py-±Chl-±Clay

ANHYDRITE ZONE

SILICIFIED ZONE

GOLD ZONE

ZnZn trace metals

trace metals

Au-Cu-Zn(Ag-Pb)

Alteration & Mineralization Model


Johnson Tract Deposit

• Excellent continuity of thick high-grade mineralization

• Gold grade and zone thickness increase with depth

• Depth extension offset by fault

Long Section

JT19-088: 97.5m @ 9.6 g/t AuEq97.5m @ 5.9 g/t Au, 3.9% Zn, 0.5% CuIncl. 22.5m @ 35.2 g/t Au, 7.5% Zn, 1.4% Cu

JT19-082: 107.8m @ @ 19.6 /t AuEq107.8 m @ 12.4 g/t Au, 7.1% Zn, 0.88% Cuincl. 28.4 m @ 35.2 g/t Au, 7.5% Zn, 1.4% Cu


JT19-090: 75.1m @ 17.8 g/t AuEq75.1m @ 10.0 g/t Au, 9.4% Zn, 0.6% Cuincl. 20m @ 29.0 g/t Au, 3.5% Zn, 0.7% Cu

New Drill Results

JT19-083: 30.7m @ 8.6 g/t AuEq30.7m @ 2.75 g/t Au, 5.5% Zn, 0.30% Cu

JT19-089: New Footwall Discovery20.7m @ 32 g/t Ag, 2.4% Cu, 4.9% Znincl. 7.0m @ 66 g/t Ag, 4.7% Cu, 9.7% Zn


Johnson Tract Deposit

JT19-089: 74.4 m @ 5.4 g/t AuEq74.4 m @ 1.1 g/t Au, 4.5% Zn, 0.6% Cu

JT19-090: 75.1m @ 17.8 g/t AuEq75.1m @ 10.0 g/t Au, 9.4% Zn, 0.6% Cuincl. 20m @ 29.0 g/t Au, 3.5% Zn, 0.7% Cu

JT19-089: New Footwall Discovery20.7m @ 32 g/t Ag, 2.4% Cu, 4.9% Znincl. 7.0m @ 66 g/t Ag, 4.7% Cu, 9.7% Zn




NEW DISCOVERY:

• Footwall to the Deposit

• Different Character

• Different orientation

• Open

Cross Section C – C’

Section Reference Line


Johnson Tract DepositCross Section A – A’


JT19-082: 107.8m @ @ 19.6 /t AuEq107.8 m @ 12.4 g/t Au, 7.1% Zn, 0.88% Cuincl. 28.4 m @ 35.2 g/t Au, 7.5% Zn, 1.4% Cu



JT82-004: 108.6 m @17.8 g/t AuEq108.6 m @ 10.4 g/t Au, 7.6% Zn, 0.7 % Cuincl. 48.0 m @ 21.1 g/t Au, 9.9% Zn, 0.9% Cu

• 275m vertical extent

• 25 to +50m true width

• Flattened pipe/lens geometry

• Bottom of deposit faulted off

• Offset 500 to 800m to NE


Section Reference Line

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Fault Offset Model

JT DEPOSIT

NE OffsetTarget

~300m


Near Deposit Exploration Targets

NE Offset – Fault displaced projection of JT Deposit at depth• limited past drilling identified same style of

mineralization; wide open to expansion

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Target

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North Trend• +1 km long north trending alteration zone with

no previous drilling

• potential for expansion of JT deposit or discovery of new parallel zones

South Extension• Cross faults interpreted to offset south extension

of Deposit into area of no past drilling

Target2

Target3

NE Offset (at depth)

Johnson Deposit

Alteration Zone

2 1

3

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District Scale Alteration & Mineralization

Kona Prospect

Easy Creek Prospect

Deposit Area

PS Prospect


Inset


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Historic “DC” DDH intersection36.6 meters @ 3.6 g/t Au, 1.8% Zn, 0.2% Cu

New Vein Prospecting Discovery (800m SE of historic showing)

1983 “DC” DDH intersection36.6m @ 3.6 g/t Au, 1.8% Zn, 0.2% Cu


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Contact:

[email protected]

+1 604 629 1165

toll free 1 855 629 1165

WWW.HIGHGOLDMINING.COM

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Documents

JANUARY 2020 Johnson Tract, Alaska Gold (Zn-Cu) · 2020-01-31 · *Estimated True Width (“ETW”) measured from cross sections Length-weighted intervals are uncapped and calculated