A Gold Miner in the Making Corporate Presentation July 2018 2 Forw - PowerPoint PPT Presentation

Goose Gold Project, Back River, Nunavut, Canada A Gold Miner in the Making Corporate Presentation – July 2018

2 Forw rward Looking In Information Statements relating to our belief as to the results of exploration activities, timing of receipt of necessary authorizations and licenses, the availability of project financing, the timing of the start of construction and the first gold pour, and the results of further optimization studies to the feasibility study, the potential tonnage and grades and contents of deposits and the potential production from and viability of Sabina’s properties are forward looking information within the meaning of securities legislation of certain Provinces in Canada. Forward looking information are statements that are not historical facts and are generally, but not always identified by the words “expects,” “plans,” “anticipates,” “believes,” “intends,” “estimates,” “projects,” “potential,” “opportunities,” and similar expressions, or that events or conditions “will,” “would . ” “may,” “could,” or should occur. The forward looking information is made of the date of this video. This forward looking information is subject to a variety of risks and uncertainties which could cause actual events or results to differ materially from those reflected in the forward looking information, including, without limitation: the effects of general economic conditions; changing foreign exchange rates; risks associated with exploration and project development; the calculation of mineral resources and reserves; risks related to fluctuations in metal prices; uncertainties related to raising sufficient financing to fund the planned work in a timely manner and on acceptable terms; changes in planned work arising from weather, logistical, technical or other factors; the possibility that results of work will not fulfill expectations and realize the perceived potential of the Company’s properties; risk of accidents, equipment breakdowns and labour disputes; access to project funding or other unanticipated difficulties or interruptions; the possibility of cost overruns or unanticipated expenses in the work program; title matters; government regulation; obtaining and receiving necessary licenses and permits; the risk of environmental contamination or damage resulting from Sabina’s operations and other risks and uncertainties including those described in Sabina’s annual information form for the year ended December 31, 2017 available at www.sedar.com Forward looking information is based on the beliefs, estimates and opinions of Sabina’s management on the date the statements are made. Sabina undertakes no obligation to update the forward looking information should management’s beliefs, estimates or opinions, or other factors, change, except as required by applicable law

3 SABINA – A GOLD MIN INER IN IN THE MAKING A scarcity of gold and de-risked gold projects make Sabina one of the few highly leveraged undervalued opportunities  80km long multi-generational mining  Completed Environmental district with embedded growth in a Assessment process – now in licensing good jurisdiction  Strong government and community  Will produce ~200k ounces Au/year support – IIBA finalized  Robust at US$1150 gold and C$0.80 at  Exceptional team 24% after tax IRR  $62.4 million (Q2/18)  Capex is attainable - targeting gold  Continued exploration drilling production 2021 identified for 2018

4 Back k Riv iver – Deposit its are Well ll Drille illed , , Well ll Understood and Open Mineral Resource Estimate Oct/14 Tonnes (kt) Au (g/t) Metal (koz Au) Gold Resource Measured & Indicated Indicated Inferred Inferred Millions oz Measured 10,273 5.27 1,740 8 Indicated 17,969 6.22 3,593 Under Sabina 7 Ownership Measured and Indicated 28,242 5.87 5,333 6 5 Inferred 7,750 7.43 1,851 4 3 Mineral Reserve Estimate Aug/15 Classification Tonnes (kt) Au (g/t) Au (koz) 2 Proven 6,983 5.97 1,340 Total Open Pit 1 Probable 1,885 5.52 335 Proven 20 9.52 6 0 Total Underground 1998 2002 2007 2009 2010 2012 2015 Probable 3,471 7.37 822 Proven 7,003 5.98 1,346 Total Back River Property 1980’s & 90s 1997-2009 June 2009 2010-2014 Probable 5,356 6.72 1,157 George & Goose Project owned by Arauco, Project acquired +325% resource deposit discoveries Kinross, Miramar & DPM by Sabina growth under Sabina 80% of open pit reserve is in Proven Category *See mineral reserves and resources estimate slide 28 for details

5 Back k Riv iver – World ld Cla lass Grade • Highest grade undeveloped open pits • The only high-grade project with a major open pit component (72% OP, 28% UG) +5 Moz Development Gold Assets in the Americas Total Resource gold grade g/t UG 15.77 15 UG 10 8.67 OP/UG 6.21 UG/OP UG/OP OP OP 5 OP OP 3.26 3.06 OP OP 2.67 2.30 1.65 1.60 1.04 1.03 0 Notes: Total 2P, Measured, Indicated & Inferred gold resources larger than ~5 million ounces; excludes by-products. Source: Company Technical Reports

Evolv lving A Gold ld System – Goose Property (fir irst min ine) 5km of an 80km District Highly prospective for extending mine life and making new discoveries Llama – Umwelt – Goose Longitudinal Section LLAMA UMWELT KOGOYOK HACKLES GNS ECHO NUVUYAK GOOSE MAIN DIF Dif Target DIF - 500m Target Open Target 525 m Open Open Vault Open Llama Plunge - 1000m Extension Growing a >5 Million Ounce Gold Trend 0 7km Current Mine Life ~ 12 years Llama - Umwelt – Goose Mineralizing Trend: Drill Target • Significant upside exploration potential. Resource MI&I LOM Gold Production 2.3M oz Au • Conversion and expansion potential. Unfolded Composite Long-section view looking north M&I 5,333M oz Au Inferred 1,851M oz Au See QA/QC Slide 27/28 6

7 Back River Property Back k Riv iver Gold ld Dis istrict DISTRICT OPPORTUNITY 100% OWNED BY SABINA Marine Lay Down Area (MLA) Bath LEGEND George Property Existing Mineral Resources: Camp Indicated 1.1m oz @ 5.6 g/t Area of Interest Inferred 980k oz @ 6.32 g/t Claim Lease Included in prior Feasibility ~600 k oz QA/QC Slide 28 Inuit Owned Land Significant extended production Surface opportunities exist through: Subsurface and Surface  Deposits not included in first mine plan (at both Goose and George) George Project  Low risk resource conversion opportunities 80 Km  Direct extensional potential for all deposits Boulder  Numerous blue sky brownfield targets Boot  Continued greenfield and generative Goose Project exploration future Del Significant existing resources at George on 20km of largely unexplored iron formation offering opportunity for another 0 12.5 25 mining complex on the Back River district Kilometres

Glo lobal BIF IF-hosted Gold ld Deposits Back River Gold Project  Groups favourably amongst successful Canadian BIF-hosted gold projects  Attractive to Major Gold Producers  Developing  Meliadine (Agnico)  Amaruq (Agnico)  Hardrock (Centarra/Premier)  Producing  Meadowbank (Agnico)  Musselwhite (Goldcorp)  Closed  Lupin (Kinross)

9 Sig ignif ificant Potential at Both Lla lama and Umwelt lt Underground Goose Property: Llama - Umwelt Longitudinal Section • Significant potential at both Umwelt and UMWELT LLAMA LLama. • Parallel structures 18GSE532 23.90 m @ 4.93 gpt Au along 3 +km of strike DIF 18GSE534 17.40 m @ 5.24 TARGET gpt Au • High grade Vault Zone -500m LLAMA VAULT DIF EXTENSION 17GSE523B at Umwelt confirmed 28.70 m @ 9.00 gpt Au TARGET 18GSE535 5.65 m @ gpt 28.95 Au 17GSE517 • At Llama significant 33.25 m @ 5.99 gpt Au 18GSE530 17GSE516B 38.55 m @ 9.48 gpt Au 23.25 m @ 15.67 gpt Au down plunge step outs 18GSE533 inc. 10.30 m @ 32.56 gpt Au 17GSE522B -1000m 3.15 m @ 15.43 gpt Au 31.9 m @ 8.65 gpt Au 2018 Drill Intercept inc 1.25m @ 34.48 gpt Au identified underground 2017 Drill Intercept Multi-Million Ounce Gold Trend potential and higher 0 3km grade zone. Llama - Umwelt Mineralizing Trend: Measured & Indicated Resource • Significant upside exploration potential. (including Reserves) • Conversion and expansion potential. Inferred Resource Long-section view looking northeast.

10 Sig ignif ificant Min ine Lif ife Ext xtension Exis xists Outside of the Current 3K Development Pla lan Llama Pit Umwelt Pit Umwelt UG Goose Pit Reserve 2.5 M Oz Reserve @ 6.30 g/t Reserve Reserve Reserve 402,000 Oz 557,000 Oz @ 829,000 Oz @ 716,000 Oz @ @ 7.15g/t Au 6.49g/t Au 7.38g/t Au 5.00g/t Au Au LLAMA UMWELT KOGOYOK GNS ECHO HACKLES NUVUYAK GOOSE MAIN Dif Dif Dif Target -500m Target Open Target 525 m Open Open Vault Open Llama Plunge Extension - 1000 m 0 7km Echo Resource Goose Main Nuvuyak Llama UG Llama Umwelt Vault High 195,000 Oz @ UG Inferred Grade and Resource Extension 6.14 g/t Au 317,000 Oz @ Resource (not Umwelt 295,000 Oz @ 7.08g/t Au in mine plan) Extension 7.93g/t Au 667,000 Oz @ 11.59g/t Au Drill Target Echo Extension Resource MI&I

11 Sig ignif ificant Potential at Umwelt Underground Vault Zone Vault zone is characterized by exceptional grades and widths Highlight Length Au (g/t) hole ID (m) 11GSE075 24.4 13.43 11GSE106 29.85 10.91 12GSE217 17 49.24 17GSE511B 13.5 16.86 17GSE517 33.25 5.99 17GSE522B 31.90 8.65 17GSE523B 28.7 9.0 18GSE532 11.45 8.38 18GSE534 17.40 5.24 True widths unknown