SABI BINA GOLD & SIL ILVER CORP. Developing the high grade Back River Gold Project. Sabina has the asset, leadership, vision and people to become a leading gold producer. We aim to provide value to shareholders by building a profile in the sector as a successful gold miner and a company controlling a world class mining district in Canada. August 2020 1
2 For orward Look Looking Informatio tion 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, 2019 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
With ith Majo ajor pe permits s an and socia social lic license rec eceived, , Sab Sabina is is sho shovel l rea eady Advanced, large, high grade - Why Sabina? 6 g/t open pits vs world average of 1.2 g/t* 1 Back River Gold Project A mining district in a stellar jurisdiction Nunavut, Canada Critical project components de-risked logistics and supply chain built and demonstrated from south to site Robust economics at US$1150 gold – significant leverage to increasing gold price Well funded with exceptional people 3 * 1 2019 average grade of open pit and U/g deposits with gold as primary commodity in M&I. S&P Global Intelligence
4 COVID-19 Glob Global Healt Health Cri Crisis is Resp esponse Mea Measur ures Imp mple lemented Course of Action: what we are doing Course of Action: What we did ❑ working in consultation with external parties to ❑ Work from home protocol initiated March 15; ❑ First Company in Nunavut to make the decision phase in camp re-opening and develop camp protocols to ensure the safety of our workforce and to de-mobilize camp, deferring exploration to the surrounding communities. later in the year and protecting our northern ❑ Continuing to engage with local governments, the community stakeholders from unnecessary risk KIA and Kitikmeot communities of exposure; ❑ Protocols will be modified based on new ❑ Decelerated project development activities to information to ensure our safety measures remain preserve cash and wait for more stable market appropriate. conditions; and ❑ Slowly and safely phasing in corporate office re- ❑ Implement reporting tracking system of opening employee health through self quarantine ❑ Maintaining vigilant approach with safety of our period after returning home from camp or employees being number 1 travel and in general. Meanwhile, we have close to 10 million ounces of gold in the most secure bank anywhere – in the ground that we own!
5 The In Investment Opportunity Development Companies By Size and Grade 14 NovaGold 23MMoz at 2.1g/t There are few advanced 12 Median target resource gold projects that are large, FF grade since 2013 = 1.9 g/t Based sed on n 2014 014 re reso source est stimate e no not high grade, district scale and 10 incl ncluding thr hree ee new new hi high gra rade Gold equivalent resource (Moz) - M&I+I in good jurisdictions. di discov over eries es 8 FPC Back River is advanced MAX SBB OLA engineered, permitted and CDV TLG BSX 6 has obtained social license KOR OSK ORE LR OIII VGCX ORG MOZ ITR 4 WAF SKE A … Median target resource size since 2013 = 2.7 Moz PRB AOT GSV RVG PGM NHK AUG ORR BGL BTR 2 TIG WGO BSR CMM TML CAI RGD SIL KIN MAI MAE LGD LIO BME HIGH BRB YGT 0 0 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 Gold equivalent grade (g/t) - M&I+I RBC Capital Markets – June 2/20
Nunavut, Ca Canada – Ov Over 4 4 de decades of of pr prosperity in n mi minin ing
7 Back Riv iver – Dep Deposits its are Well ll Dr Drill illed , Well ll Und nderstood od and nd Open. Over 56 568,0 8,000 me meters of f dr drilli lling com omple leted. Opp pportu tunit itie ies to to inc ncrease resources wi with th infill nfill dr drill llin ing Mineral Resource Estimate Gold Resource Oct/14 Tonnes (kt) Au (g/t) Metal (koz Au) 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 0 Proven 20 9.52 6 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 1980’s & 90s 1997-2009 June 2009 2010-2014 Property 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 30 for details
8 Back River Property Bac ack Riv River A A Dis Distric ict Sc Scal ale Gold old Opp pportunity Port 100% OWNED BY SABINA 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 Included in prior Feasibility ~600 k oz Lease QA/QC Slide 30 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 opportunities with infill program 80 Km ❑ Direct extensional potential for all deposits Boulder Boot ❑ Numerous blue sky brownfield targets ❑ 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 mining complex on the 0 12.5 25 Back River district Kilometres
Sig Significant Wor ork Com ompleted over th the e las last tw two o yea ears to o ad advance th the e proje ject 9
10 Back Back Ri River is Per ermit itted, Sh Shovel l Read eady and and Of Offers Rob obust Econ onomic ics Initial Capital Expenditures as a % of Market Capitalization ❑ At US$1150 gold price and 530% Sabina has one of the lowest capital 480% $.80 FX generates 24.2% after intensity ratios relative to peers 364% tax IRR (9/15 Feasibility Study) ❑ Simple executable first mine 164% 103% produces ~200,000 Oz per 81% 81% 61% 55% year for ~12 years. Expanded Orla Orezone Rubicon Sabina Gold Standard Belo Sun Cardinal INV Falco mine life demonstrated. ✓ Back River is a Company Maker with embedded growth in a ❑ Fully permitted and shovel world class jurisdiction ready. Strong government and ✓ 6.2 g/t Au open pits – highest grade undeveloped pits community support; ✓ Robust Economics ✓ Capex geared to a company Sabina’s size ✓ Competitive Opex ❑ social license in hand ✓ Strong Production Profile ✓ 12 year mine life with significant expansion demonstrated QA/QP – see slide 29
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