NexGold Mining — M&A Activity 2021

Mar 20, 2021

For Ministry Use Only
À l'usage exclusif du ministère

Ontario Corporation Number Numero de la societe en Ontario

																				5046275
						Ministry of Government and Consumer Services				Ministère des Services gouvernementaux et des Services aux consommateurs
			Ontario			CERTIFICATE This is to certify that these articles are effective on				CERTIFICAT Ceci certifie que les présents statuts entrent en vigueur le
								MARCH 09		MARS,				2021
								Sarbaco Llachu Director / Directrice Business Corporations Act / Loi sur les sociétés par actions
		STATUTS DE FUSION						ARTICLES OF AMALGAMATION
1.								The name of the amalgamated corporation is: (Set out in BLOCK CAPITAL LETTERS)												Dénomination sociale de la société issue de la fusion: (Écrire en LETTRES MAJUSCULES SEULEMENT) :
	R 1	Ε	A	S	U	R	Y		M	Е	T.	A	S		L	N	C	$\overline{\phantom{a}}$
		TORONTO						130 KING STREET WEST, SUITE 3680 Street & Number or R.R. Number & if Multi-Office Building give Room No. / Rue et numéro ou numéro de la R.R. et, s'il s'agit d'un édifice à bureaux, numéro du bureau											ONTARIO		$M \vert 5 \vert$	X	1	B
						Name of Municipality or Post Office /		Nom de la municipalité ou du bureau de poste																Postal Code/Code postal
3.		Number of directors is:				Nombre d'administrateurs :				Fixed number Nombre fixe									OR minimum and maximum OU minimum et maximum		1			9
4.						First name, middle names and surname		The director(s) is/are: / Administrateur(s) : Prénom, autres prénoms et nom de famille				Province, Country and Postal Code							nom de la municipalité, la province, le pays et le code postal	Address for service, giving Street & No. or R.R. No., Municipality, Domicile élu, y compris la rue et le numéro ou le numéro de la R.R., le				Resident Canadian State 'Yes' or 'No' Résident canadien Oui/Non
						FRAZER BOURCHIER						ONTARIO, CANADA, L4G 2L6								73 KENNEDY STREET WEST, AURORA,				Yes
		WILLIAM FISHER										ONTARIO, CANADA, M4E 1J6								57 ISLEWORTH AVENUE, TORONTO,				Yes
						MARC HENDERSON						ONTARIO, CANADA, M4H 3H8							8 RIDGEFIELD ROAD, TORONTO,					Yes

Form 4 Business Corporations Act

Formule 4 Loi sur /es societes par actions

1. The director(s) is/are: continued:

CHRISTOPHE VEREECKE	2 RUE BRULLER, PARIS, FRANCE, 75014	No
DAVID WHITTLE	1767 COLDWELL ROAD, NORTH VANCOUVER, BRITISH COLUMBIA, CANADA, V7G 2P3	Yes
DANIEL W. WILTON	1188 WEST GEORGE STREET, SUITE 2070, VANCOUVER, BRITISH COLUMBIA, CANADA, V6E 4A2	Yes
FLORA WOOD	91 BERNARD AVENUE, TORONTO, ONTARIO, CANADA, MSR 1 R8	Yes

		5. Method of amalgamation, check A or B Methode choisie pour la fusion - Cocher A ou B :
	A -	Amalgamation Agreement I Convention de fusion
D or OU		The amalgamation agreement has been duly adopted by the shareholders of each of the amalgamating corporations as required by subsection 176 (4) of the Business Corporations Act on the date set out below. Les actionnaires de chaque societe qui fusionnne ant dOment adopte la convention de fusion conformement au paragraphe 176(4) de la Loi sur /es societes par actions a la date mentionnee ci-dessous.
	B -	Amalgamation of a holding corporation and one or more of its subsidiaries or amalgamation of subsidiaries I Fusion d'une societe mere avec une ou plusieurs de ses filiales ou fusion de filiales :
		The amalgamation has been approved by the directors of each amalgamating corporation by a resolution as required by section 177 of the Business Corporations Act on the date set out below. Les administrateurs de chaque societe qui fusionne ant approuve la fusion par voie de resolution conformement a !'article 177 de la Loi sur !es societes par actions a la date mentionnee ci-dessous
		The articles of amalgamation in substance contain the provisions of the articles of incorporation of Les statuts de fusion reprennent essentiellement les dispositions des statuts constitutifs de TREASURY METALS INC.
		and are more particularly set out in these articles. et sont enonces textuellement aux presents statuts.
		Names of amalgamating corporations Denomination sociale des societes qui fusionnent	Ontario Corporation Number Numero de la societe en Ontario	Date of Adoption/Approval Date d'adoption ou d'approbation Month Year Day annee mois jour
		TREASURY METALS INC.	1274047	2021,03,09
		T AMAKA GOLD CORPORATION		2021,03,09

	Restrictions , if any, on business the corporation may carry on or on powers the corporation may exercise. Limites. s'il ya lieu, imposees aux activites commerciales ou aux pouvoirs de la societe.
	None.
7.	The classes and any maximum number of shares that the corporation is authorized to issue: Categories et nombre maximal. s'il y a lieu, d'actions que la societe est autorisee a emettre :
	The Corporation is authorized to issue an unlimited number of common shares.

1. Rights , privileges, restrictions and conditions (if any) attaching to each class of shares and directors authority with respect to any class of shares which may be issued in series:

Droits, privileges, restrictions et conditions, s'il ya lieu, rattaches a chaque categorie d'actions et pouvoirs des administrateurs relatifs a chaque categorie d'actions qui peut etre emise en serie :

The common shares of the Corporation shall have attached thereto the following rights, privileges, restrictions and conditions:

1. Dividends

1.1 Subject to the prior rights of any shares ranking senior to the common shares with respect to priority in the payment of dividends, the holders of common shares shall be entitled to receive dividends and the Corporation shall pay dividends thereon, as and when declared by the board of directors of the Corporation out of moneys properly applicable to the payment of dividends, in such amount and in such form as the board of directors may from time to time determine and all dividends which the directors may declare on the common shares shall be declared and paid in equal amounts per share on all common shares at the time outstanding.

1. Dissolution

2.1 In the event of the dissolution, liquidation or winding-up of the Corporation, whether voluntary or involuntary, or any other distribution of the assets of the Corporation among its shareholders for the purpose of winding-up its affairs, subject to the prior rights of the holders of any shares ranking senior to the common shares with respect to priority in the distribution of assets upon dissolution, liquidation or winding-up, the holders of the common shares shall be entitled to receive the remaining property and assets of the Corporation.

3. Voting Rights

3 .1 The holders of the common shares shall be entitled to receive notice of and to attend all meetings of the shareholders of the Corporation and shall have one vote for each common share held at all meetings of the shareholders of the Corporation, except for meetings at which only holders of another specified class or series of shares of the Corporation are entitled to vote separately as a class or series.

4. Voting Restrictions

The holders of shares of any class and the holders of shares of any series of any class are not entitled to vote separately as a class or series, as the case may be, upon, and shall not be entitled to dissent in respect of, any proposal to amend the articles to:

1. increase or decrease any maximum number of authorized shares of such class or series, or increase any maximum number of authorized shares of a class or series having rights or privileges equal or superior to the shares of such class or series;

2. effect an exchange, reclassification or cancellation of the shares of such class or series; or

3. create a new class or series of shares equal or superior to the shares of such class or series.

9.	The issue, transfer or ownership of shares is/is not restricted and the restrictions (if any) are as follows:
	L'emission, le transfer! ou la propriete d'actions est/n'est pas restreint. Les restrictions, s'il y a lieu, sont les suivantes :

None.

1. Other provisions, (if any): Autres dispositions, s'il y a lieu :

The board of directors of the Corporation may, without authorization of the shareholders of the Corporation, from time to time, in such amounts and on such terms as it deems expedient:

(a) borrow money upon the credit of the Corporation;

(b) issue, re-issue, sell or pledge debt obligations of the Corporation;

( c) give a guarantee on behalf of the Corporation to secure performance of an obligation of any person; and

( d) charge, mortgage, hypothecate, pledge or otherwise create a security interest in all or any of the currently owned or subsequently acquired property and assets of the Corporation, including without limiting the generality of the foregoing, real and personal property, movable and immovable property, tangible and intangible assets, book debts, rights, powers, franchises and undertakings, to secure any obligation of the Corporation.

The board of directors may from time to time by resolution delegate to a committee of directors or to one or more of the directors or officers of the Corporation all or any of the powers hereby conferred upon the board to such extent and in such manner as the board shall determine at the time of each such delegation. Nothing in this section shall limit or restrict the borrowing of money by the Corporation on bills of exchange or promissory notes made, drawn, accepted or endorsed by or on behalf of the Corporation.

^11. The statements required by subsection 178(2) of the Business Corporations Act are attached as Schedule "A". Les declarations exigees aux termes du paragraphe 178(2) de la Loi sur Jes societes par actions constituent I' annexe A.

^12. A copy of the amalgamation agreement or directors' resolutions (as the case may be) is/are attached as Schedule "B". Une copie de la convention de fusion ou les resolutions des administrateurs (selon le cas) constitue(nt) l'annexe B.

These articles are signed in duplicate. Les presents statuts son! signes en double exemplaire.

Name and original signature of a director or authorized signing officer of each of the amalg amating corporations. Include the name of each corporation, the signatories name and description of office (e.g. president, secretary). Only a director or authorized signing officer can sign on behalf of the corporation. I Norn et signature originale d'un administrateur ou d'un signataire autorise de chaque societe qui fusionne. lndiquer la denomination sociale de chaque societe, le nom du signataire et sa fonction (p. ex. : president, secretaire). Seul un administrateur ou un dirigeant habilite peut signer au nom de la societe.

TREASURY METALS INC.

Names of Corporations I Denomination sociale des societes

By I Par • ff\t".+~, R..tk._ , \ J ,, Signature I Signature T AMAKA GOLD CORPORATION JEREMY WYETH Print name of signatory I Norn du signataire en lettres moulees Names of Corporations I Denomination sociale des societes By I Par , CHIEF EXECUTIVE OFFICER Description of Office I F onction

' l .J Signature I Signature

~~· Jj;__~

JEREMY WYETH

Print name of signatory I Norn du signataire en lettres moulees

CHIEF EXECUTIVE OFFICER

Description of Office I Fonction

Names of Corporations I Denomination sociale des societes By I Par

Signature I Signature Print name of signatory I Norn du signataire en lettres moulees Description of Office I Fonction

Names of Corporations I Denomination sociale des societes By I Par

Signature I Signature Print name of signatory I Norn du signataire en lettres moulees Description of Office I Fonction

Names of Corporations I Denomination sociale des societes By I Par

Signature I Signature Print name of signatory I Norn du signataire en lettres moulees

Description of Office I Fonction

SCHEDULE "A"

STATEMENT OF DIRECTOR OR OFFICER PURSUANT TO SUBSECTION 178(2) OF THE BUSINESS CORPORATIONSACT(ONTARIO)

I, Jeremy Wyeth, hereby state that:

• I. I am an officer of Treasury Metals Inc. and Tamaka Gold Corporation and as such have knowledge of their affairs.
• 1. I have conducted such examinations of the books and records of each amalgamating corporation as are necessary to enable me to make the statements hereinafter set forth .
• 1. There are reasonable grounds for believing that:
• (a) each amalgamating corporation is and the amalgamated corporation will be able to pay its liabilities as they become due; and
• (b) the realizable value of the amalgamated corporation's assets will not be less than the aggregate of its liabilities and stated capital of all classes.
• 1. There are reasonable grounds for believing that no creditor will be prejudiced by the amalgamation.

THIS STATEMENT made this March 9, 2021.

Jeremy Wyeth

SCHEDULE Bl

CERTIFIED COPY OF RESOLUTION OF THE DIRECTORS

OF

TREASURY METALS INC. (the "Corporation")

"

AND WHEREAS the Corporation is the holding corporation ofTamaka Gold Corporation (the "Subsidiary") and has agreed to amalgamate with the Subsidiary pursuant to subsection 177(1) of the Business Corporations Act (Ontario) (the "Act") effective as of March 9, 2021 or such other date as may be determined appropriate by the board of directors of the Corporation (the "Amalgamation Date");

"

7. Amalgamation

• (a) The amalgamation of the Corporation and the Subsidiary under the Act pursuant to subsection 177(1) thereof, be and the same is hereby approved;
• (b) subject to the endorsement of a Certificate of Amalgamation pursuant to subsection 178(4) of the Act, and without affecting the validity of the incorporation and existence of the Subsidiary under its articles of incorporation and of any act done thereunder, all shares in the capital of the Subsidiary, including all shares which have been issued and are outstanding at the date hereof, be and the same are hereby cancelled without any repayment of capital in respect thereof;
• .( c) except as provided by the Act, the articles of amalgamation of the amalgamated corporation shall be the same as the articles of incorporation of the Corporation;
• (d) the by-laws of the amalgamated corporation shall be the same as the by-laws of the Corporation; and
• (e) no securities shall be issued and no assets shall be distributed by the amalgamated corporation in connection with the amalgamation of the Corporation with the Subsidiary.

Signature page follows

The undersigned, being the Chief Executive Officer of the Corporation, hereby certifies on behalf of the Corporation, and not in a personal capacity, that the above is a true and complete copy of a resolution of the board of directors, passed on March 9 , 2021 , and the same is still in full force and effect.

DATED: March 9, 2021.

Jeremy Wyeth

SCHEDULEB2

CERTIFIED COPY OF RESOLUTION OF THE DIRECTORS

OF

TAMAKA GOLD CORPORATION (the "Corporation")

"AMALGAMATION WITH HOLDING CORPORATION

RECITAL:

The Corporation is a wholly-owned subsidiary of and has agreed to amalgamate with Treasury Metals Inc. ("Holding") pursuant to subsection 177(1) of the Business Corporations Act (Ontario) (the "Act").

RESOLVED THAT:

1. the amalgamation of the Corporation and Holding under the Act pursuant to subsection 177(1) thereof, be and the same is hereby approved;

2. subject to the endorsement of a Certificate of Amalgamation pursuant to subsection 178(4) of the Act, and without affecting the validity of the incorporation and existence of the Corporation under its articles of incorporation and of any act done thereunder, all shares in the capital of the Corporation, including all shares which have been issued and are outstanding at the date hereof, be and the same are hereby cancelled without any repayment of capital in respect thereof;

3. except as provided by the Act, the articles of amalgamation of the amalgamated corporation shall be the same as the articles of incorporation of Holding;

4. Holding; the by-laws of the amalgamated corporation shall be the same as the by-laws of

5. no securities shall be issued and no assets shall be distributed by the amalgamated corporation in connection with the amalgamation; and

6. any officer or director of the Corporation be and they are hereby authorized to do all things and execute all instruments and documents necessary or desirable to carry out and give effect to the foregoing."

Signature page follows

The undersigned, being the Chief Executive Officer of the Corporation, hereby certifies on behalf of the Corporation, and not in a personal capacity, that the above is a true and complete copy of a resolution of the board of directors, passed on March 9 , 2021 , and the same is still in full force and effect.

DATED: March 9, 2021.

Jeremy Wyeth