Investor Presentation for NOVEMBER 2019 1
CAUTIONARY STATEMENT This presentation may contain certain “forward-looking” statements and information relating to Latitude that are based on the beliefs of the company’s management, as well as assumptions made by and information currently available to manage- ment. Such statements reflect the current risks, uncertainties and assumptions related to certain factors including but not limited to, without limitations, exploration and development risks, expenditure and financing requirements, general eco- nomic conditions, changes in financial markets, the ability to properly and efficiently staff the Company’s operations, the sufficiency of working capital and funding for continued operations, title matters, First Nations matters, operating hazards, political and economic factors, competitive factors, metal prices, relationships with vendors and strategic partners, govern- mental regulations and supervision, permitting, seasonality and weather, technological change, industry practices, and one- time events. Should any one or more risks or uncertainties materialize or change, or should any underlying assumptions prove incorrect, actual results and forward-looking statements may vary materially from those described herein. Latitude does not assume the obligation to update any forward-looking statement or forward-looking information except as required by law. 2
The Four Pillars Of Value Creation 1 2 3 4 GROWTH GREAT ASSET FINANCIAL OWNERSHIP STRENGTH POTENTIAL -Good Resource -Management-Founded Company -Production -Excess Plant Capacity -Skin in the Game -Community Engagement -Offtake Agreement -Institutional Support -Listing 2020 -Strong HSE Standards -Cash Generation -M&A 3
COLOMBIA Latitude’s Asset Portfolio NUEVA RECUPERADA: FLAGSHIP ASSET IN HUANCAVELICA ECUADOR -Acquired from BVN in 2017, restarted production 2018 -Excess capacity = Near-term growth - 7.3 million tonnes resources (Inferred, 43-101) -A truly regional play: 12,600-Ha land package -Highly prospective / Mining-friendly location BRAZIL PERU PRODUCTION MINING PROACTIVE POWER AND ACCESS CAPACITY PERMIT COMMUNITY INFRASTRUCTURE 600 TPD IN PLACE ENGAGEMENT IN PLACE Lima CUSCO AZOD: ACCHA ZINC OXIDE DISTRICT IN CUSCO HUANCAVELICA BOLIVIA -Great potential for partnership opportunities in a context of stronger zinc prices CHILE 4
Great Resource and Land Package 43-101 RESOURCES (INFERRED) AREA TONNES Ag (g/t) Pb % Zn % NORTH - TANGANA 4,840,015 116.33 3.35 1.63 NORTH - HUACHOCOLPA 2,160,649 124.50 3.06 2.91 SOUTH - RECUPERADA 323,701 379.81 1.31 2.26 TOTAL 7,324,365 130.38 3.17 2.04 STATEMENT REGARDING MINERAL RESOURCES NI 43-101 Technical Report on Resources. Recuperada Project, Huancavelica Province, Peru. Carried out by Centro de Estudios Mineros. Qualified Person: Edmundo Tulcanaza. LAND PACKAGE Known ORIGIN HECTARES Productive Veins Latitude (ex BVN) 4,644 22 Latitude (ex PAS) 6,617 53 Latitude New Acquisitions 1,400 15 Total 12,661 90 5
Enormous Geological Upside 0 m 812 -200 m Mined stopes Mined stopes Mined stopes -400 m 3 150 805 810 4 811 813 803 809 127 -600 m 149 802 Ore shoot -800 m Ore shoot - excellent ? Ore shoot - excellent Ore shoot - excellent depth potential depth potential depth potential Ore shoot - excellent ? ? depth potential -1000 m ? ? ? ? ? ? m k 5 0 km 1 km 2 km 3 km 1 . o t 5 0 . > Nueva Recuperada veins: strike-slip Riedel shear regime. Unlike low-sulphidation systems, there’s > 600 - 800 m enormous potential at depth in Nueva Recuperada. Vein typical size: LENGTH: 500 TO 1,500M DEPTH: 600 TO 800M 6
Development Spanning Half a Century PRODUCTION VS RESERVES 700,000 600,000 500,000 400,000 300,000 200,000 100,000 1957 1960 1965 1970 1975 1980 1985 1990 1995 2000 2005 2010 Production Reserves 7
Over 50 years of Profjtable Grades Undiluted mine grades consistently above $250/tonne at todays prices - through 56 years of production! 30 25 20 $250 / tonne Ore%/Oz $ 250 / tonne 15 Ag equivalent Ag equivalent $250 / tonne $ 250 / tonne Pb equivalent Pb equivalent 10 $ 250 / tonne $250 / tonne Zn equivalent Zn equivalent 5 0 1957 1960 1965 1970 1975 1980 1985 1990 1995 2000 2005 2010 2013 Pb% Ag Oz Zn% 8
Cash Generation - Unlocking Value From Day 1 RESOURCES RECUPERADA PLANT COMMUNITY / HSE -Concession package acquired from - 600 tpd capacity, in perfect shape - Historic mining district Pan American Silver - Fully-permitted - Win-win approach toward - 7.3 million tonnes community relations inferred resources (43-101) - Silver-Lead-Zinc operation started (2.04% Zn, 3.17% Pb, 130.4 g/t Ag) Q4 2018 (300 tpd) - Putting people safety always first 9
A Win-Win Strategy with Communities and Workers - Historic mining district: 60+ years of mining activity -Proactive approach to extend community agreements -Supporting education and capacity building projects Safety Record (Jan-Oct 2019): 63 workers on average 0 ACCIDENTS, 0 LOST DAYS 10
Financial Strength SALES MINING PRODUCTION TONNAGE 18,000 Mine production taking off 16,000 14,000 Offtake agreement with Trafigura 12,000 Infrastructure in place 10,000 8,000 Competitive G&A 6,000 4,000 2,000 0 AUG-19 SEP-19 OCT-19 NOV-19* DEC-19* *Estimate LAYING THE FOUNDATIONS FOR VALUE GENERATION 11
Ownership: Management-Founded Company Sebastian Wahl José M. García Konstantin Lichtenwald Otto Sandoval VP Corp Development CEO & Director CFO Peru GM & Director Mike Hoffman John Gray Jorge Benavides Carlos Espinosa Director Director Director Chairman SKILLED AND AMBITIOUS TEAM TO GROW THE COMPANY 12
Ownership: Skin in the Game Latitude’s key personnel driven by equity incentives: 3% “ 1% The best performing companies have leaders that own substantial amounts of 51% common stock relative to 45% their level of compensation. “ Shareholders’ Gold Council Investors Directors & Management Employees Former Zincore Investors Strong Institutional Support Group behind initial funding to Ivanhoe Mines 13
Growth Potential NUEVA RECUPERADA ORGANIC GROWTH -Current plant 600 tpd, excess capacity available -Outstanding Geology supports future expansions to 1,200 tpd LATITUDE CORPORATE STRATEGY STEP 1: Latitude, Proven Mining Operator - Operational capability - Financial performance - Community / HSE record STEP 2: Implement Growth Vision - Multi-asset company: production for several decades - Intense M&A due diligence for high-upside base metal assets NUEVA RECUPERADA IS JUST THE BEGINNING: STEPPING STONE FOR SOMETHING LARGER 14
High-Exposure Growth Opportunities Are Rare 8.9% 191 new listings TSX / TSXV (Jan-Aug 2019) Of that, only 17 in mining (8.9%) Non-Mining Listings Of that, only 3 outside Canada (1.57%): -Patagonia Gold (Argentina) -Jervois Mining (Australia) TSX/TSXV New Listings (Jan-Aug 2019) -Newmont Goldcorp (Major - TSX) Listed Mining Companies From Canada Listed Mining Companies Outside Canada Source: MiG Report August 2019 (TMX) 15
LISTING 2020. JOIN US! 1 2 3 4 GREAT ASSET FINANCIAL OWNERSHIP GROWTH STRENGTH POTENTIAL -Management-Founded Company -Good Resource -Excess Plant Capacity -Production -Skin in the Game -Community Engagement -Offtake Agreement -Listing 2020 -Strong HSE Standards -Institutional Support -M&A -Cash Generation LATITUDE LISTING IS A UNIQUE, HIGH-EXPOSURE OPPORTUNITY IN THE SILVER + BASE METALS SPACE 16
THANK YOU 17
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