Saddle North Project, Tatogga Property
Golden Triangle, BC
JULY 2020 TSX-V : GTTOTC : GTGDF
INVESTOR PRESENTATION
Cautionary Statement Regarding Forward Looking Information
TSXV: GTT 2
Certain statements included in this presentation constitute forward-looking statements, including those identified by the words “proposed”, “will”, anticipate”, “believe”, “plan”, “estimate”,
“expect”, “intend”, “may”, “should” and similar words and expressions to the extent they relate to GT Gold Corp. (the “Company”) or its management.
The forward-looking statements are not historical facts and are based on current expectations and various estimates, factors and assumptions, and therefore involve known and unknown risks,
uncertainties and other factors.
Any forward-looking statements represent the Company’s estimates only as of the date of this presentation and should not be relied upon as representing the Company’s estimates as of any
subsequent date. The material factors and assumptions that were applied in making the forward-looking statements in this presentation include:
• execution of the Company’s existing plans or exploration programs for its properties, which may change due to changes in the views of the Company, or if new information arises which
makes it prudent to change such plans or programs; and
• the accuracy of current interpretations of geochemical, geophysical, drilling and other exploration results, since new information or new interpretations of existing information may result in
changes in the Company’s expectations. Readers should not place undue reliance on the Company’s forward-looking statements, as the Company’s actual results, performance or
achievements may differ materially from any future results, performance or achievements expressed or implied by such forward-looking statements if known or unknown risks, uncertainties
or other factors affect the Company’s business, or if the Company’s estimates or assumptions prove inaccurate. Therefore, the Company cannot provide any assurance that such forward-
looking statements will materialize. The Company disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future
events or otherwise.
QA/QC PROCEDURES
GT Gold has implemented a rigorous quality assurance / quality control (QA/QC) program to ensure best practices in sampling and analysis of RC chips and diamond drill core, the complete
details of which can be viewed on the Company’s website at http://www.gtgoldcorp.ca/projects/tatogga/
For full details on both Saddle North and Saddle South reverse circulation and diamond drill program assay results widths reported in this presentation, please refer to the corresponding press
release available on the Company website at www.gtgoldcorp.ca/news/. All assays are performed by ALS Canada Ltd. (Minerals), with sample preparation carried out at the ALS facility in
Terrace, BC, and assays at the North Vancouver laboratory. Assay values are uncut. For gold, fire assays are performed as per ALS protocol Au-AA26 (0.01-100.00 g/t Au) using 50 grams of
sample with assays equal to or greater than 5 g/t Au calculated gravimetrically, and lower-grade samples measured by (AA) atomic absorption. All samples that return equal to or greater than 5
g/t Au from initial fire assaying are additionally sent for screen metallic analysis using the remainder of the pulp (~950 grams of sample). This step is taken to ensure that any coarse grained,
nugget gold fraction that may have been missed in the fire assays has been captured.
GT Gold Corp.’s Qualified Person as defined by National Instrument 43-101 is Michael Skead, FAusIMM, VP Project Development. Mr. Skead has reviewed and approved the technical
information in this presentation.
Attractive New Copper & Gold Investment Opportunity
TSXV: GTT 3
Maiden Mineral Resource for Saddle North Project• Multi-billion pound copper and multi-million ounce gold resource• Located in Tier-1 Canadian jurisdiction with infrastructure• Prospective property with regional exploration upside potential
Strong Leadership Team• Highly experienced management and board with proven track record• Clear, dual-focused growth strategy to create long-term value
Solid Financial Position• Sufficient funds to support 2020 exploration season and work to complete
Saddle North PEA
Shareholder Confidence• 11.9% ownership by Directors and Management• 14.9% ownership by Newmont Corporation
LEADERSHIP & GROWTH STRATEGY
$14.4M CASH*NO DEBT
INSIDER & CORPORATEOWNERSHIP
1.81 Blb Cu | 3.47 Moz AuINDICATED RESOURCE
2.98 Blb Cu | 5.46 Moz AuINFERRED RESOURCE
*as at March 31, 2020
Highway 37
SADDLE
DISCOVERIES
287 kV Power Line
• Existing Infrastructure
• Easily Accessible
• Within Tahltan Traditional Territory
• Within Prolific Golden Trianglein BC, Canada
TATOGGA PROPERTY Iskut
Community
N
TATOGGA PROPERTY
Tier 1 Mining Jurisdiction with Access and Infrastructure
7/28/2020TSXV: GTT 4
Attractive New Investment Opportunity with District Upside Potential in Canada
TSXV: GTT 5
1. ADVANCE SADDLE NORTH TO PEA
Saddle North large-scale gold-copper porphyry deposit with optionality and expansion upside
✓ Geological model completed in Q1
✓ Initial mineral resource estimate completed in Q2
• Continue ongoing engineering work and studies to deliver the Preliminary Economic Assessment (PEA) in Q4 2020
2. DEVELOP NEW TARGETS ON PROPERTY
• Quash Pass target5-6 km long strong coincident soil and geophysical anomaly located less than 8 km from Saddle area
• Saddle areahighly prospective untested targets adjacent to Saddle discoveries
• Additional targets identified on prospective 468 km2 property
2020 Clear Dual-focused Strategy to Create Long-term Value
Saddle North Mineral
Resource Estimate
Alteration Model*Lithology Model*
*See press releases dated April 28, 2020 and July 6, 2020 for details on Saddle North alteration and lithology models and Quality Control processes in creating the Mineral Resource estimate.
Shapes from the geological model were imported and used as estimation domains to create the Mineral Resource Block Model
SADDLE NORTH MINERAL RESOURCE
Quality Control from Geological Model to Mineral Resource Estimate
TSXV: GTT 7
0m 250m 500m 750m
Saddle North Combined Mineral ResourceOpen Pit and Underground*
Indicated Resource298 Mt @ 0.28% Cu, 0.36 g/t Au and 0.79 g/t Ag
1.81 Blb Cu, 3.47 Moz Au and 7.58 Moz Ag
Inferred Resource543 Mt @ 0.25% Cu, 0.31 g/t Au and 0.67 g/t Ag
2.98 Blb Cu, 5.46 Moz Au and 11.64 Moz Ag
✓ Open pit as well as underground mining potential
✓ Potential for expansion with mineralization opendown plunge and to the southwest
• Basis for PEA expected by year-end 2020
SADDLE NORTH MINERAL RESOURCE
2020 Maiden Mineral Resource Summary
Saddle North Combined Mineral ResourceOpen Pit and Underground*
*See press release dated July 6, 2020 for notes on mineral resources, Net Smelter Return (“NSR”) and assumptions
TSXV: GTT 8
SADDLE NORTH MINERAL RESOURCE
2020 Mineral Resource Estimates & Assumptions Saddle North Open Pit Mineral Resource (NSR1 cut-off $9.00/t)
ResourceCategory
Tonnes(Mt)
Average Grade Contained MetalCu(%)
Au(g/t)
Ag(g/t)
Cu(M lb)
Au(koz)
Ag(koz)
Open Pit Material
Transition Indicated 21.3 0.15 0.16 0.50 72 108 343Inferred 13.0 0.20 0.12 0.62 58 49 261
Fresh Indicated 195.8 0.26 0.30 0.67 1,105 1,906 4,207Inferred 240.5 0.22 0.25 0.53 1,174 1,907 4,091
Total Indicated 217.1 0.25 0.29 0.65 1,177 2,014 4,550Inferred 253.5 0.22 0.24 0.53 1,232 1,956 4,352
Saddle North Underground Mineral Resource (Bulk shape based on C$16/t NSR)
Resource Category
Tonnes(Mt)
Average Grade Contained MetalCu(%)
Au(g/t)
Ag(g/t)
Cu(M lb)
Au(koz)
Ag(koz)
Underground Material
Total Indicated 80.9 0.35 0.56 1.16 632 1,457 3,026Inferred 289.3 0.27 0.38 0.78 1,750 3,499 7,288
Saddle North Combined Open Pit and Underground Mineral Resource
ResourceCategory
Tonnes(Mt)
Average Grade Contained MetalOpen Pit and Underground
Cu(%)
Au(g/t)
Ag(g/t)
Cu(M lb)
Au(koz)
Ag(koz)
Combined Indicated 298.0 0.28 0.36 0.79 1,809 3,471 7,576Inferred 542.8 0.25 0.31 0.67 2,982 5,455 11,640
• Differences may occur in totals due to rounding.• The effective date for the Mineral Resource is July 6, 2020.• Mineral Resources, which are not Mineral Reserves, do not have demonstrated economic viability. The estimate of Mineral Resources may be
materially affected by environmental, permitting, legal, title, taxation, sociopolitical, marketing, changes in global gold markets or other relevant issues.• CIM definitions were followed for classification of Mineral Resources. The quantity and grade of reported indicated and inferred Mineral Resources in
this estimation are uncertain in nature. There has been insufficient exploration data to define the inferred Mineral Resources as an indicated MineralResource and it is uncertain if further exploration will result in upgrading them to an indicated or measured Mineral Resource category.
Assumptions
• Metal prices: US$3.25/lb Cu / US$1,500/oz Au / US$18/oz Ag
• Avg relative density: 2.80 g/cm3
• US$/C$ exchange rate: 0.76
• Metal recoveries: 88% for Cu / 67% for Au / 58% for Ag
Open Pit
• Mining costs: C$2.30/t, with additional incremental depth cost
• Processing and G&A costs: C$9.00/t
• Pit wall angle: - 45º
• Net Smelter Return (“NSR”) cut-off: C$9.00/t
Underground
• Underground bulk mining shape based on NSR C$16.00/t……………………………………………………………………………………………………………………………………………………………………………………………………………………………………
• Payable metal net of smelter costs at 89%
• 1NSR ($/t) = (Cu% x $73.84 per % Cu) + (Au g/t x $37.84 per gram Au) + (Ag g/t x $0.39 per gram Ag)
TSXV: GTT 9
SADDLE NORTH MINERAL RESOURCE
Resource Grade Continuity and Zonation
1
1
3
7
8
9
11
12
9
6
2
1
1
7
11
9
12
12
9
14
18
12
12
12
7
6
3
2
19
36
41
39
38
38
30
30
20
15
15
9
5
3
3
2
27
47
59
46
38
28
17
8
3
1
5
44
64
41
15
5
2
1
1
0 20 40 60 80 100 120 140 160
1,700
1,600
1,500
1,400
1,300
1,200
1,100
1,000
900
800
700
600
500
400
300
200
100
Resource (Mt)
Elev
atio
n (m
)
Tonnes of Resource by NSR value per 100 m Depth Intervals
over 60 40 - 60 20 - 40 09 - 20 0 - 09
Notes
• Net Smelter Return (“NSR”) ($/t) = (Cu% x 2204.62lb/t x Cu Recovery x payable% x Cu Price) + (Au g/t ÷31.10348 ounces x Au Recovery x Au Price xpayable%) + (Ag g/t ÷ 31.10348 ounces x AgRecovery x Ag Price x payable%) Payable metal net ofsmelter costs at 89%
• NSR ($/t) = (Cu% x $73.84 per % Cu) + (Au g/t x$37.84 per gram Au) + (Ag g/t x $0.39 per gram Ag)
• Metallurgical recoveries of 88% for copper, 67% forgold and 58% for silver
• Metal prices of USD $3.25/lb of copper, USD$1,500/oz of gold and USD $18/oz of silver
• Average density of 2.80 g/cm3
Continuous grades extending +1.5 km
TSXV: GTT 10
Mt per NSR category
SADDLE NORTH MINERAL RESOURCE
Saddle North Resource Expansion PotentialMineralization remains open at depth and to northwest and southeast
N
850 m
1.15
km
B’
BA’
A
B’B
TSXV: GTT 11
Saddle North plan view
A’A
ADVANCING SADDLE NORTH
Next Steps – towards a PEA in 2020
TSXV: GTT 12
Q3: File National Instrument 43-101 (“NI 43-101”) Technical Report for Saddle North Mineral Resource
Q3: Results expected from further comminution testing of nine variability samples collected:• 5 from potential open pit limits (3 from broad envelope of mineralization + 2 from high-grade core)• 4 from deeper high-grade core of mineralization with underground mining potential
Q4: Anticipated completion of Saddle North Preliminary Economic Assessment by year-end 2020• Mining – mine design, access & infrastructure, production schedule, optimization, cut-off grade• Geotechnical / Hydrology – tailings management, site water management, waste rock facility• Mineral Processing / Metallurgy – basic engineering & design, flowsheets, site layouts• Environmental / Social - water quality, climate, hydrology, hydrogeology, wildlife & vegetation,
fisheries, ARD/ML, socioeconomics, land use, culture and heritage • Estimating - capital, sustaining and operating costs • Economic Analysis - financial model with indicators and sensitivity analysis• Filing of NI 43-101 Technical Report within regulatory time frame to follow early 2021
TSXV: GTT 12
Saddle South Upside
Saddle
TSXV: GTT 14
• 2017: High grade gold-in-soil anomalies were followed up by first ever drilling at Saddle South
• Drilling to date (2017-2019) has outlined:✓ An extensive near-surface zone of
high grade Au-Ag vein mineralization spanning ~1,000 m X 150 m X 700 m
✓ Good continuity across sections both near surface and at depth in high grade zones
✓ Locally extensive surface expression of mineralization
• Mineralized system remains open along strike and at depth
• Situated within 3 kilometres of Saddle North project
Saddle Zone Plan Map
IP chargeability basemap
Residual Magnetic Intensity (RMI) magnetic contours
10000metres
Saddle North (West)
Eastern Extension
mV/V
mV/V
Residual Magnetic Intensity (contours)
500 nT
-200 nT
TTD0799.55 g/t Au
over 40.89 m
TTD00751.53 g/t Au and
117.38 g/t Ag over 6.95 m
TTD05831.79 g/t Au and 1,141.10 g/t Ag
over 3.01 m
TTD0641.35 g/t Au
and 0.37% Cu over 18.50 m
TTD13510.00 g/t Au and
46.84 g/t Ag over 53.73 m
ADVANCING SADDLE AREA
Saddle South – Precious Metal Rich Vein System
TSXV: GTT 15
Historical drilling (2017-2019)• Reverse circulation drilling:
2017: 28 holes (1,524 m)
• Diamond drilling:2017: 58 holes (14,471 m)2018: 36 holes (16,587 m)2019: 4 holes (1,289 m) TOTAL: 98 holes (32,347 m)
ADVANCING SADDLE AREA
Saddle South – Gold and Silver Rich System Adds UpsideTTD135
9.47 g/t Au and 6.30 g/t Ag
over 2.59 m(158.66 – 161.25 m)
TTD13510.00 g/t Au
and 46.84 g/t Ag over 53.73 m
(93.27 – 147.00 m)
TTD1354.29 g/t Au
and 8.53 g/t Ag over 14.80 m
(34.00 – 48.80 m)
TTD1405.60 g/t Au
and 15.19 g/t Ag over 15.00 m
(35.00 – 50.00 m)
TTD1404.00 g/t Au
and 15.23 g/t Ag over 23.74 m
(53.36 – 77.10 m)
TTD1406.58 g/t Au
and 26.46 g/t Ag over 28.30 m
(80.70 – 109.00 m)
16
ADVANCING SADDLE AREA
Saddle South – Cross Sections of a Precious Metal Rich Vein System
4.29 g/t Au & 8.53 g/t Ag over 14.80 m
10.00 g/t Au & 46.84 g/t Ag over 53.73 m
9.47 g/t Au & 6.30 g/t Ag over 2.59 m
30.39 g/t Au & 56.71 g/t Ag over 1.75 m
5.38 g/t Au & 2.98 g/t Ag over 1.00 m
5.60 g/t Au & 15.19 g/t Ag over 15.00 m4.00 g/t Au
& 15.23 g/t Ag over 23.74 m
6.58 g/t Au & 26.46 g/t Ag over 28.30 m
1.70 g/t Au & 3.73 g/t Ag over 23.00 m
0.52 g/t Au & 0.67 g/t Ag over 10.00 m
5.53 g/t Au & 7.88 g/t Ag over 11.00 m
2.80 g/t Au & 2.45 g/t Ag over 8.00 m
2.24 g/t Au & 1.27 g/t Ag over 6.49 m
1.91 g/t Au & 16.05 g/t Ag over 0.66 m
2020 Exploration
TSXV: GTT 18
• Porphyry district comparisons show Tatogga upside • Initial diamond drill program beginning late July in
Quash Pass area• Saddle remains a high priority target area
Red Chris mine
Saddle
TatoggaProperty
Quash Pass
Anomaly ~3km
+0
+1000
+0
+1000
NW SE
IP chargeability
Red Chris
Saddle North
3km
Cadia 5.5km
Gully Zone
Main Zone East Zone OP
East Zone UG
Au ppm
0.5
0.4
0.3
0.2
0.1
0
Ridgeway
Big Cadia
Cadia Quarry Cadia Hill
Little Cadia
Cadia East
DEVELOPING A PROJECT PIPELINE
2020 Exploration: District Potential
Note: Cadia and Red Chris sections sourced from Newcrest’s Exploration Edge presentation (Jan 20, 2020)
6,402,000 mN
430,
000
mN
432,
000
mN
430,
000
mN
432,
000
mN
Apparent Conductivity (Mobile MT)
> 6.86 mS/m
5.59 mS/m
5.06 mS/m
4.93 mS/m
4.73 mS/m
4.54 mS/m
< 3.19 mS/m
Induced Polarization
Chargeability
> 25.0 mV/V
6.0 mV/V
5.0 mV/V
4.0 mV/V
3.0 mV/V
2.0 mV/V
0.0 mV/V
TATOGGA PROPERTYQuash-Pass
QUASH-PASS
• Multielement & Index Signatures• Large base metal surface
expression• Multielement zonation and
corridors
0 500
metres
250
Quash-Pass Plan MapBase maps:
IP Chargeability, 213 Hz MT, 50 m Elevation
Contours, & Streams.
Projection: UTM NAD 83 Zone 9
• Four Distinct Soil Geochemical Targets• Main Trend, Silverhead, Central, &
Valleyside
1 – 5
5 – 10
10 – 25
25 – 50
50 – 75
75 – 100
100 – 150
>150
Au-in-Soil (ppb)
0 500
metres
250
Quash-Pass Plan MapBase maps:
IP Chargeability, RMI Magnetic Contours, 50 m Elevation Contours,
& Streams.
Projection: UTM NAD 83 Zone 9
Induced Polarization
Chargeability
> 25.0 mV/V
6.0 mV/V
5.0 mV/V
4.0 mV/V
3.0 mV/V
2.0 mV/V
0.0 mV/V
RMI MagneticsContoured
>500 nT
100 nT
50 nT
0 nT
<-200 nT
TATOGGA PROPERTYSaddle North
SADDLE AREA• More to be Found
• Saddle North, along strike, at depth, and in the Poelzer Footwall• Western Geochem, Central and
Southern IP anomalies
• New and Old Targets from Surface• TTD064: 7.40 m @
2.28 g/t Au, 0.56% Cu
1 – 5
5 – 10
10 – 25
25 – 50
50 – 75
75 – 100
100 – 150
>150
Au-in-Soil (ppb)
Collars Legend
Past Drilling
2019 FIELD SEASON
Respect for Community, Culture and Wildlife
• Formal Communication and Engagement Agreement with Tahltan Central Government
• Continuing water sampling
• Progressive reclamation of drill and camp areas
• Archaeology assessment and surveys
SOCIAL RESPONSIBILITY
Working in Tahltan Traditional Territory
TSXV: GTT 21
Tahltan employees
Exploration spending in
contracts with Tahltan or
Tahltan Partner companies
Community Sponsorship and
Communications Agreement
27%
$3M
~$70k
TSXV: GTT 22
9.9% 8.914.9
11.9
39.6
24.7% GTT
Ownership1Retail
Ross Beaty
Institutions
Directors & Management
1. Source: IR Insight, Cap IQ, Morningstar, direct communication with firms and SEDI filings to May 30, 2020.
2. Prices and year to date average volume provided as at close of day July 22, 2020.3. As at April 20, 2020.4. As at March 31, 2020.5. Refer to financing press releases dated May 29, 2019 and December 12, 2019..
Capitalization and Balance Sheet (C$)Share Price2 $1.47Basic Shares Outstanding3 125.9MOptions Outstanding3 10.4MBasic Market Capitalization $185.1MCash4 $14.4MTotal Debt $0
Analyst Coverage• Agentis Capital – Michael Gray• Cormark Securities – Brock Colterjohn• Industrial Alliance – George Topping• M Partners – to be confirmed, analyst left firm• Paradigm Capital – David Davidson• PI Financial – Chris Thompson• Stifel GMP – Tyron Breytenbach
INVESTOR INFORMATION
Equity Structure & Analyst Coverage2020 Year to Date2 Share Perfomance
Newmont5
GT Gold average daily volume: 546,000 shares(consolidated across Canadian venues)
+38% +34%
+19%
+4%
GT Gold GDXJ Gold Copper
Q&A
Sunlife Plaza. 1100 Melville Street, Suite 610
Vancouver, BC V6E 4A6
236-427-4711 | www.gtgoldcorp.ca
For investor inquiries, please contact:
JENNI P IETTE, HEAD OF INVESTOR RELATIONS
647-531-2471 | [email protected]
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