ANNUAL GENERAL MEETING 28 MAY 2020 DUNCAN GIBBS – MANAGING DIRECTOR & CEO PAG AGE | E | 1 PAGE | 1
DISCLAIMER IMPORTANT NOTICES Natur ure o of t this d docum ument nt: The purpose of this presentation is to provide general information about Gold Road Resources Limited (the ‘Company’). Unless otherwise stated herein, the information in this presentation is based on the Company’s own information and estimates. In attending this presentation or viewing this document you agree to be bound by the following terms and conditions. This document has been prepared by the Company. Information in this document should be read in conjunction with other announcements made by the Company to the Australian Securities Exchange and available at www.goldroad.com.au or www.asx.com. No Not an offe ffer: This presentation is for information purposes only and does not constitute or form any part of any offer or invitation to sell or issue, or any solicitation of any offer to purchase or subscribe for, any securities in the Company in any jurisdiction. This presentation and its contents must not be distributed, transmitted or viewed by any person in any jurisdiction where the distribution, transmission or viewing of this document would be unlawful under the securities or other laws of that or any other jurisdiction. No Not fina nanc ncial pr product advice ce: This presentation does not take into account the individual investment objectives, financial situation and particular needs of each of the Company’s Shareholders. You may wish to seek independent financial and taxation advice before making any decision in respect of this presentation. Neither the Company nor any of its related bodies corporate is licensed to provide financial product advice in respect of the Company’s securities or any other financial products. Forw rward rd-looki ooking st stateme ments: Certain statements in the presentation are or may be “forward-looking statements” and represent the Company’s intentions, projections, expectations or beliefs concerning, among other things, future operating and exploration results or the Company’s future performance. These forward looking statements speak, and the presentation generally speaks, only at the date hereof. The projections, estimates and beliefs contained in such forward looking statements necessarily involve known and unknown risks and uncertainties, and are necessarily based on assumptions, which may cause the Company’s actual performance, results and achievements in future periods to differ materially from any express or implied estimates or projections. Accordingly, readers are cautioned not to place undue reliance on forward looking statements. Relevant factors which may affect the Company’s actual performance, results and achievements include changes in commodity price, foreign exchange fluctuations and general economic conditions, increased costs and demand for production inputs, the speculative nature of exploration and project development, diminishing quantities or grades of reserves, political and social risks, changes to laws and regulations, environmental conditions, and recruitment and retention of personnel. Disc scla laime imer: No representation or warranty, express or implied, is made by the Company that the material contained in this presentation will be achieved or prove to be correct. Except for statutory liability which cannot be excluded, each of the Company, its directors, officers, employees, advisers and agents expressly disclaims any responsibility for the accuracy, fairness, sufficiency or completeness of the material contained in this presentation, or any opinions or beliefs contained in this document, and excludes all liability whatsoever (including in negligence) for any loss or damage which may be suffered by any person as a consequence of any information in this presentation or any error or omission there from. The Company is under no obligation to update or keep current the information contained in this presentation or to correct any inaccuracy or omission which may become apparent, or to furnish any person with any further information. Any opinions expressed in the presentation are subject to change without notice. Unver erified ed infor ormati tion: This presentation may contain information (including information derived from publicly available sources) that has not been independently verified by the Company. PAG AGE | E | 2
DELIVERING SHAREHOLDER VALUE Australia’s Newest Gold Producer Long life, low cost production at Tier 1 gold mine 1 First gold poured June 2019 50:50 JV partner Gold Fields a proven global miner 12 year mine life at ~300 kozpa Successful Explorer in Undercover and Underexplored Belts Extensive (~5,000 km 2 ) and prospective Yamarna exploration tenements (Gold Road 100%) Cygnus JVs 75% interest in underexplored Greenstone belt Gilmour Discovery on 100% owned tenements * 100% basis 1 Refer to ASX announcement dated 6 December 2019. Tier 1: Greater than 10 year mine life; greater than 300,000 ounces per annum; greater PAG AGE | E | 3 than 3.5 million ounce Ore Reserve and costs at the lower end of the cost curve
CORPORATE PROFILE CAPITAL STRUCTURE 880M 1 BOARD OF DIRECTORS ISSUED SHARES Tim Netscher Non-Executive Chairman 5M 1 PERFORMANCE RIGHTS Duncan Gibbs Managing Director & CEO A$1,560M 2 $US1,015M 5 MARKET CAP Justin Osborne Executive Director – Discovery & Growth A$115M 1 US$75M 5 CASH & EQUIVALENTS Sharon Warburton Non-Executive Director Brian Levet Non-Executive Director DEBT DRAWN (OF 100M FACILITY) A$80M 1 US$52M 5 Carol Marinkovich Joint Company Secretary 91.5 koz @ A$1,853/oz 1 US$1,204 5 HEDGING Hayden Bartrop Joint Company Secretary 1.9 Moz 4 ORE RESERVES SHAREHOLDERS 3.6 Moz 4 MINERAL RESOURCE North America 2% Retail 13% ANALYST RESEARCH SUBSTANTIAL SHAREHOLDERS 34% Broker/Advisors Argonaut Van Eck 12% UK & European Instos Bell Potter BlackRock 8% Australian Instos Canaccord Vanguard 5% 18% Corporate Hartleys INDICES Board & Management Macquarie ASX200, GDXJ , RBC 1% Rest of World MSCI, GDX 3 1% 1% 1 As at 31 March 2020 2 As at 20 May 2020, based on last close price of A$1.775 per share 30% 3 GOR joined the GDX on 17 April 2020 PAG AGE | E | 4 4 GOR Attributable 5 FX: 1AUD = US$0.65
GRUYERE GOLD MINE AUSTRALIA’S NEWEST GOLD PRODUCER ROM LAYDOWN AREA COS OFFICES SETTLING POND PRE-LEACH THICKENERS GRINDING – 15MW SAG & BALL MILL LEACH & CIL TANKS POWERHOUSE PAG AGE | E | 5
GRUYERE GOLD MINE 2019 A YEAR OF TRANSFORMATION Ope peration ( (10 100% ba basis) Uni nit March ch 202 2020 Qt Qtr 2019 3 201 Ore Mined kt 1,837 6,712 Waste Mined kt 2,783 13,089 Strip Ratio w:o 1.51 1.95 First gold poured June 2019 Grade g/t 1.06 0.87 Ore milled kt 1,926 3,278 1.05 Head Grade g/t 1.05 Commercial Production attained September 2019 Recovery % 94.1 93.3 Gold P Produced oz oz 59,595 595 99,130 130 Capital Cost of A$610M below budget of A$621M Co Cost S Summar ary 179 Mining A$/oz 140 520 Processing A$/oz 464 2019 production of 99,130 ounces at top of guidance 92 G&A A$/oz 73 33 Ore Stock & GIC Movements A$/oz 40 2019 AISC of A$1,102 per ounce meets guidance (2) By-product Credits A$/oz (2) SAG AG & & Ca Cash Co Cost A$/oz oz 822 822 715 715 BALL M BA LL MILLS ILLS 77 Royalties, Refining, Other A$/oz 65 158,725 ounces produced to date at low AISC 4 19 Rehabilitation 1 A$/oz 23 100 Sustaining Leases A$/oz 85 117 Sustaining Capital & Exploration A$/oz 214 1,135 135 Al All-in S n Sus ustaining C Costs A$/oz oz 1,102* 102** Sales ( (50% s share) 2 Unit March 202 2020 Qt Qtr 2019 3 201 31,700 Gold Sold oz 49,565 Average Sales price A$/oz 2,001 2,038 *100% basis unless otherwise stated. ** 2019 costs quoted since commercial production PAG AGE | E | 6 1 Rehabilitation includes accretion and amortization; 2 Gold Road’s 50% share; 3 Calendar Year 2019, 4 Gruyere gold production since first gold to 31 March 2020 on 100% basis
GRUYERE GOLD MINE LOW COST PRODUCTION 2020 Annual Guidance unchanged 1 COVID-19 Not ‘’business as usual’’ but guidance unchanged 250,000-285,000 ounces (100% basis) AISC A$1,100-A$1,200/oz attributable (GOR) 1 Refer to ASX announcement dated 12 February 2020 Company AISC Guidance 2020 (A$/oz) $2,000 AISC (A$/oz) $1,750 $1,500 $1,250 $1,000 Withdrawn Withdrawn Withdrawn $750 $500 $250 $0 Evolution Kirkland Lake Gold Road Regis Saracen Aurelia Ramelius Northern Star Silver Lake Newcrest St Barbara Westgold Perseus Red 5 Dacian Resolute OceanaGold PAG AGE | E | 7 Source: RBC Capital Markets, SNL Metals & Mining, Company Announcements. Annual AISC as reported at 3 April 2020 for 2020 financial year
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