Columbus Gold : Corporate Presentation - September 2020 (2024)

Disclaimer

This presentation contains forward-looking information and statements, as defined by law including without limitation Canadian securities laws and the "safe harbor" provisions of the US Private Securities Litigation Reform Act of 1995 ("forward-looking statements"), regarding geological interpretations, potential timing and content of exploration programs, receipt of permits or property titles, joint venture agreements, financings, and similar topics. Generally, forward-looking statements can be identified by the use of forward-looking terminology such as "plans", "expects" or "does not expect", "is expected", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates" or "does not anticipate", or "believes", or variations of such words and phrases or state that certain actions, events or results "may" ,"could", "would", "might" or "will be taken", "occur" or "be achieved".

Forward-looking statements are subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of Columbus Gold to be materially different from those expressed or implied by such forward-looking statements. Because forward-looking statements refer to events and conditions that have not yet taken place, they involve inherent risks and uncertainties, and reliance should not be placed on such statements. Some of the risks, uncertainties, and other factors that may cause actual results to be materially different from those expressed or implied by the forward-looking statements may include without limitation the ability to obtain regulatory, shareholder, and security exchange approvals; the ability to satisfy conditions precedent; the ability to obtain applicable exemptions from prospectus and registration requirements in connection with the issuance of securities of Columbus Gold; the ability to complete milestones; the ability to obtain qualified workers, financing, permits, approvals, and equipment; changes in the commodity and securities markets; decisions respecting whether or not to pursue the transactions made by Columbus Gold or the other parties with which Columbus Gold is interacting; non-performance by contractual counterparties; and general business and economic conditions. Forward-looking statements are also based on a number of assumptions that may prove to be incorrect, which may include without limitation assumptions about: general business and economic conditions; that applicable approvals are obtained; that conditions precedent are satisfied; that exemptions are available and employable by Columbus Gold; that milestones are completed; that qualified workers, financing, permits, approvals, and equipment are obtained; that market conditions continue; that decisions of Columbus Gold and third parties are made that are in line with such forward-looking statements; that contractual counterparties perform their obligations as required; and that Columbus Gold is able to locate sufficient financing for favourable ongoing operations.

The foregoing lists of factors and assumptions are not complete nor exhaustive, and Columbus Gold undertakes no obligation to update any of the foregoing except as required by law. Most of the forward-looking statements contained in this presentation are collected from other disclosure sources of Columbus Gold, including without limitation news releases, information circulars, technical reports, and other regulatory and securities exchange filings. Columbus Gold recommends and expects that you will review the applicable forward-looking statement disclaimer language in such original sources for additional information on the forward-looking statements contained in this presentation.

Rock Lefrançois, P.Geo. (OGQ), is Columbus Gold's President and Chief Executive Officer and Qualified Person under National Instrument 43-101, and has reviewed and approved the technical content of this presentation.

2016-07-08

2

Corporate Vision

• A low-impact mining target
• Rigorous social and environmental commitments
• Adhere to the most rigorous standards
• Innovative technological approach for the protection of the environment
• Inclusive territorial social ambition
• Sustainable Development Goals (SDG) alignment

Organization Chart

Orea Mining Corp.

OREA :TSX

[Incorporated in Canada]

100%

Capital Structure

Share Structure*

* As at June 1, 2020

CGT Trading History | 5-YEARCHART

CGT 2019 Trading Hi/Low: 27¢ / 11¢ | Daily volume: 80,000

Guiana Shield | High Potential

PANGEA

French Guiana

225 million years ago, the Guiana

Shield and the West African

Birimian Shield were joined.

• Geological continuity between the Guiana Shield and the West African Birimian Shield
• The Greenstone Belts of West Africa have produced and contain mine reserves of 7,750 tonnes of gold (250 Moz)
• The Guiana Shield is LARGELY under-explored compared to West Africa (30 vs 100 years mining history)
• French Guiana covers over 35,000 km2 of prospective and underexplored Greenstone Belt terrain
• World-classgold mines are producing in neighboring eastern Suriname (Rosebel 15.2 Moz, Merian 8.9 Moz)
• No.1 and 2 world gold producers, Newmont-Goldcorp and Barrick, have made invested in Guyana, Suriname and French Guiana

French Guiana | Gold Projects

• MONTAGNE D'OR JV
• • 44.99% Columbus / 55.01% Nordgold (operator)
  • BFS completed in 2017
  • Open pit Reserves of 2.75 million ounces gold (54.11 Mt @ 1.58 g/t gold)
  • Project modifications underway to submit permit applications in mid-2020
• MARIPA GOLD PROJECT
• • Drilling stage exploration project
  • Option to acquire up to 70% interest
  • Five contiguous permits covering 120 km2
  • Similar geology to IAMGOLD's Rosebel gold mine
  • Past drilling limited to shallow depths
  • Five partially defined broad gold zones
  • Drillhole intersections of economic interest
  • 2019 Prospecting returned high grade samples:
  • • Site 1:from 5.84 to 86.80 g/t gold
    • Site 2:from 5.98 to 115.70 g/t gold
    • Site 3:from 6.83 to 52.33 g/t gold
    • Site 4:from 13.07 to 15.22 g/t gold

Montagne D'Or

Mine Permitting Stage

Montagne D'Or JV

• Located in NW French Guiana, 180 km west of the capital Cayenne
• Accessed by a 125-km laterite road from the western hub of Saint-Laurent-du-Maroni (Paul Isnard road)
• Joint-venturebetween Columbus Gold (44.99%) and operator Nordgold (55.01%)
• No expenditures by Columbus until all permits to commence construction are granted

Montagne D'Or JV | Technical Project Summary

• World-classvolcanogenic gold orebody with pit-confined NI 43-101 compliant:
• • M&I Resources: 3.85 Moz (85.1 Mt @ 1.41 g/t gold)
  • Inferred Resources: 960,000 oz (20.2 Mt @ 1.48 g/t gold)
  • Proven and Probable Reserves: 2.75 Moz (54.11 Mt @ 1.58 g/t gold)
• Positive Bankable Feasibility Study completed in March 2017:
• • Open pit mining with annual production of 237,000 oz gold in the first 10 years of mine life at an average grade of 1.73 g/t gold
  • AISC of US$749 per ounce gold
  • Straightforward metallurgy, excellent expected recovery rates and moderate strip ratio
  • 2 Moz gold in-pit Indicated and Inferred Resources excluded from Reserves
  • Considerable potential to increase mine Reserves by infill and expansion drilling

Montagne D'Or JV | US$70M BFS to Permitting

2013-2017 - PEA, BFS and ESIA (US$45.6M)

• Preliminary Economic Assessment (July 2015)
• Bankable Feasibility Study (March 2017)
• Environmental and Social Impact Assessment (on-going for permitting requirements)
• Mine Construction Decision (December 2017)

2018 - Permitting Phase I (US$7.5M)

• Public Consultation by the French National Commission of Public Debate (CNDP)
• Complimentary technical and environmental studies

2019 - Permitting Phase II (US$8.6M)

• Project modifications/improvements studies under recommendations of the CNDP:
• • on-sitehybrid solar power generation
  • on-siteexplosive production
  • tailings storage facility redesign to lower height of retainment dams
  • maximize the in-pit material for construction of mine infrastructures
  • waste rock acid generation and water management/balance

2020 - Permitting Phase III (US$9M)

• Completion of project modifications/improvements
• Submittal and processing by State services of mining, environmental and construction permits

Montagne D'Or JV | Upcoming Milestones

1. Mining concession renewals
2. Completion of engineering studies for committed project improvements and modifications in Q1-2020
3. French mining code reform
4. Submittal of mining and environmental authorizations and construction permit applications

Maripa Gold Project

Exploration / Definition Drilling Stage

Maripa Gold Project

• Equivalent geological setting to the Rosebel gold mine (15.2 Moz) in neighboring Suriname
• Located along paved national road 60 km south of Cayenne
• 5 contiguous exploration permits covering 120 km2
• 134 shallow core holes drilled by previous operators
• 5 partially drill-defined gold zones with drill intersections of economic interest with demonstrated potential for expansion and mineral resource delineation
• Several surface gold geochemical anomalies remain untested
• Two-stageoption to earn up to a 70% interest
• Columbus Gold operator

Maripa Gold Project | 2019 Prospecting Highlights

• Field investigation of microrelief anomalies recorded by the airborne Lidar topographic survey identified 4 sites of illegal artisanal mine workings that expose previously unrecognized quartz-gold vein systems in the vicinity of the Changement and Filon Dron gold zones
• Sampling of mine stockpiles returned high-grade gold values:
• • Site #1- 86.80, 5.84 and 11.45 g/t gold
  • Site #2- 115.70, 83.48, 68.43, 42.60, 29.57, 15.51, 14.70, 9.42, 6.04 and 5.98 g/t gold
  • Site #3- 52.33, 16.99, 14.64, 14.50, 9.75, 7.36 and 6.83 g/t gold
  • Site #4- 15.22 and 13.07 g/t gold
• The newly identified gold mineralized structures remain untested by drilling
• 5 sub-parallelquartz-gold vein systems now identified in the northern half of Maripa
• Structural setting typical of shear hosted veins and stockworks:
• • High-angleshear veins
  • Conjugate set of moderately dipping shear-tension veins
  • Flat tension veins

French Guiana | 2020 Exploration Program & Budget

C$3.8M exploration programs planned for the MARIPA Gold Project

• Completion of prospecting on Changement and Maripa permits
• Geomorphological mapping over entire Maripa project
• Structural field mapping and desktop study on Changement and Maripa permits
• Ground Induced Polarization (IP) geophysical surveys on Changement and Maripa permits
• 4,500-meterdiamond drilling program on Changement and Maripa permits
• • Maripa permit - 5,000 m program planned, permit granted
  • Changement permit - 5,000 m program planning underway
• NI 43-101 compliant Technical Report update following drilling program

Coverage

Analyst Coverage

• The above is a list of Mining Analysts, Newsletter Writers and Commentators that currently provide coverage or commentary on Columbus Gold. Any opinions, estimates, or forecasts made are theirs alone and do not represent opinions, forecasts, or predictions of the company. Columbus does not, by its reference above, imply its endorsem*nt of, or concurrence with, such information, conclusions, or recommendations. Columbus will endeavour to keep the lists above current when it becomes aware in a change of coverage but undertakes no obligation to do so and the list above may not be accurate at all times.