PACGOLD LIMITED — Investor Presentation 2021

Oct 13, 2021

Unlocking an Entire Gold Corridor Alice River Gold Project ASX : PGO

INVESTOR PRESENTATION – OCTOBER 2021

Cautionary Statement

Disclaimer & competent persons statement

PURPOSE OF THIS DOCUMENT

This presentation has been prepared by Pacgold Limited ("PGO") for general information purposes only using the information available to PGO at the time of publication. This presentation does not purport to be all-inclusive or to contain all the information that you or any other party may require to evaluate the prospects of PGO.

NO RELIANCE

The information contained in this presentation is not investment, tax, accounting, legal or financial product advice and is not intended to be used as the basis for making any investment decision. The presentation has been prepared without taking into account the investment objectives, financial situation or particular needs of any particular person. To the fullest extent permitted by law, PGO, its related bodies corporate and their representatives expressly disclaim liability for any loss or damage arising in respect of your reliance on the information contained in this presentation (including your reliance on the accuracy, completeness or reliability of that information), or any errors in or omissions from this presentation, including any liability arising from negligence.

EXCLUSION OF REPRESENTATIONS OR WARRANTIES

No representation or warranty, express or implied, is made as to the fairness, accuracy, completeness or correctness of the information, opinions and conclusions contained in this presentation. To the maximum extent permitted by law, none of PGO's directors, employees or agents, nor any other person accepts any liability, including, without limitation, any liability arising out of fault or negligence, for any loss arising from the use of the information contained in this presentation. In particular, no representation or warranty, express or implied is given as to the accuracy, completeness or correctness, likelihood of achievement or reasonableness of any forecasts, prospects or returns contained in this presentation nor is any obligation assumed to update such information. Such forecasts, prospects or returns are by their nature subject to significant uncertainties and contingencies. Before making any investment decision, you should consider whether an investment is appropriate in light of your particular investment needs, objectives and financial circumstances. Past performance is no guarantee of future performance. You should seek professional advice from your accountant, financial adviser, stock broker, lawyer or other professional adviser before making any investment decision.

FORWARD LOOKING INFORMATION

Certain statements in this presentation constitute "forward looking information" that is based on expectations, estimates and projections as of the date of this presentation. This forwardlooking information includes, among other things, statements with respect to PGO's business strategy, plan, development, objectives, performance, outlook, growth, cash flow, projections, targets and expectations, and exploration results. Generally, this forward-looking information can be identified by the use of forward-looking terminology such as 'outlook', 'anticipate', 'project', 'target', 'likely',' believe', 'estimate', 'expect', 'intend', 'may', 'would', 'could', 'should', 'scheduled', 'will', 'plan', 'forecast', 'evolve' and similar expressions. These statements are subject to risks and uncertainties. The forward looking information should not be relied upon as representing the view of PGO after the date of this presentation. PGO has attempted to identify important factors that could cause actual actions, events or results to differ materially from those current expectations described in the forward looking information. There can be no assurance that the forward looking information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, the reader should not place undue reliance on the forward looking information. PGO disclaims any intent or obligations to or revise any forward-looking statements whether as a result of new information, estimates, or options, future events or results or otherwise, unless required to do so by law.

EVENTS AFTER THE DATE OF THIS DOCUMENT

Statements in this presentation are made only as of the date of this presentation unless otherwise stated and the information in this presentation remains subject to change without notice. PGO is not responsible for updating nor undertakes to update this presentation.

COMPETENT PERSONS STATEMENT

The information in this document that relates to Exploration Results is based on, and fairly represents, information compiled or reviewed by Mr Tony Schreck, who is a Member of The Australasian Institute of Geoscientists. Mr Schreck is PGO's Managing Director and holds shares and options in PGO.

Mr Schreck has sufficient experience which is relevant to the style of mineralisation and type of deposit under consideration and to the activity which he is undertaking to qualify as a Competent Person as defined in the 2012 Edition of the 'Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves'.

Mr Schreck consents to the inclusion in the public report of the matters based on his information in the form and context in which it applies.

Company Snapshot – ASX: PGO

Tight Capital Structure

5.5M Unlisted Options @ 36c and 46c

A$6.7M Cash Balance On listing 08/07/21

Key Facts

• Only 49.3M shares on issue
• Strong institutional support:

Unlocking an Entire Gold Corridor Alice River Gold Project

• Large-scale gold system with potential for highgrade gold zones below the current level of exposure
• Advanced and compelling targets currently being drilled
• Exceptional exploration upside to drive discovery driven growth – large untested shear zone
• Overlooked for 20 years opportunity to apply modern exploration models and techniques

Investment Highlights PACGOLD LIMITED (ASX:PGO)

First mover in an overlooked prospective gold terrain – strong ground position (inc. granted mining leases), AngloGold Ashanti now securing tenure nearby in the province

Untapped upside for large gold discoveries within a high-grade Intrusion Related Gold System – opportunity to apply modern exploration models and techniques

An energised and experienced Board and Management team with a track record of discovery through to development and production, with 'skin in the game'

Drilling Underway – 5,000m programme targeting advanced, near-surface, high-value gold targets

Alice River Gold Project Overview Acquisition & Mining History

• Limited exploration over past 20 years (held by private company / prospector) Pacgold acquired the project from a deceased estate in Dec 2020 (100%). Minimal upfront payments - success milestone payments linked to JORC indicated resource definition and a 2% NSR.1
• 30km of prospective target structures mostly concealed beneath thin sand cover and secured under 377km2 of 5 granted EPMs and 8 granted Mining Leases (ML)

Mining History

1900's	Late 1980's	Late 1990's
Several underground mines	Open pit mining to 40m,	Colluvial & alluvial ore,
up to 40m deep over 3km,3,000oz Au @ 30g/t Au	30,000oz @ 5.6g/t Au	3,000oz Au @ 2.5g/t Au

1980's – 1990's campaigns - Gold produced via Carbon in Pulp (CIP) processing

1 Full acquisition terms are detailed in Pacgold's IPO Prospectus dated 25 May 2021 - ASX release 06/07/2021

Intrusion Related Gold Systems - IRGS

Model driven exploration to accelerate the timeline to discovery

Alice River Gold Project:

• Many similarities to the Donlin Creek gold mine (39Moz Au, Alaska) IRGS model
• Opportunity to apply the latest IRGS model not previously applied on the project
• Metal zonation, quartz vein textures and structural analysis very applicable in identifying high-grade gold zones
• Early diamond drilling by Pacgold will refine our IRGS model to ensure effective and predictive exploration for discovery

Large-Scale Gold System

Overlooked by modern exploration

Gold intersected in regional scout drilling along a 30km-long shear zone

Pacgold's initial focus on three priority targets covering 7km of the gold bearing shear zone:

Central Target

Compelling targets along strike from open pit mine and down-plunge extensions to high-grade gold mineralisation – Drilling in progress

Southern Target

Broad untested gold / IP geophysics targets 1.8km x 500m – Drilling planned

Northern Target – Regional Pipeline

2.5km-long extension to Alice River Shear Zone under shallow cover; confirmed with new IP geophysics

New High-Resolution IP Geophysics

Resistivity IP lows define extensive gold mineralised corridors beneath shallow cover

Central Target

Defining new structures and new targets along strike from open pit mine

Log Resistivity IP – 3D model (horizontal slice) Chargeability IP – 3D model (horizontal slice)

Central Target

Advanced modelling of resistivity IP enables mapping gold corridors in 3D

Log Resistivity IP –3D model (horizontal slice)

Log Resistivity IP –3D model (vertical slice / x-section) beneath open pit

Central Target – Long Section

Gold mineralisation open along strike and at depth beneath historical open pit

FORWARD PROGRAMME FOR THE CENTRAL TARGET

First phase of drilling in progress - 1,000m DD and 3,000m RC Expected completion Dec 2021 VISIBLE GOLD IN CORE ARDH001

• Target bonanza gold zones deeper in the system – follow the vein textures
• Limited previous drilling along strike and at depth below high-grade open pit
• Current drilling stepping out along strike and down dip on shear zone

Southern Target

High-grade gold in limited previous drilling

• Historical high grades intersected in limited shallow drilling over 1.5km
  • 8m @ 55.9g/t Au incl. 4m 111g/t Au
  • 4m @ 27g/t Au
  • 18m @ 4.6g/t Au
• New IP geophysics defines target corridor over 2.5km (beneath extensive thin cover sediments)
• Open to the north and south
• Not effectively tested by previous shallow drilling (ave. depth 39m)

Southern Target

Potentially wide, untested gold zones

First phase of drilling planned – 200m DD and 1,000m RC

ASX: PGO | 14

Northern Target

2.5km extension of high-grade target zone

• New IP Geophysics defines extension of Alice River Shear Zone over 2.5km north from Central Target
• High-grade gold intersected in very limited previous shallow drilling (open along strike and down dip)
  • 6m @ 4.5g/t Au from 22m, incl. 2m @ 9.1g/t Au from 26m
• Target zone concealed by extensive shallow cover sediments

Planned Drilling in 2022

Widespread Shallow Cover Sediments

Geophysics provides ability to see through cover – large new targets defined

Project Pipeline – Regional Structures

Excellent regional prospectivity

• Vast majority of the 30km-long target structure not effectively tested due to the extensive shallow sand cover
• Regional BLEG soils (1990 and 1996) identified outcropping / sub-cropping gold mineralisation with scout drilling intersecting broad zones of gold mineralisation
• No follow-up since scout drilling was completed in the 1990s

FORWARD PROGRAMME FOR THE REGIONAL PIPELINE TARGETS

IP geophysics to map resistivity lows (alteration/structures)

Regional drilling 2022

Experienced Board & Management

Discovery | Project Financing | Mine Development

Cathy Moises Non-Exec Chair

Geologist with over 30 years in resource finance industry including senior roles for several of the most prominent stock broking firms in Australia and currently a Director for ASXlisted companies (ASX: ARU, APC, WAK, PLG and POD).

Tony Schreck Managing Director

Geologist with over 30 years of precious and base metal exploration, business development and discovery experience (Australia and overseas) combined with extensive ASX-listed corporate management. Graduate Australian Institute of Company Directors.

Michael Pitt Non-Exec Director

Co-founder of New Century Resources, playing an instrumental role in the restart of the Century zinc mine combined with a strong background in chemical engineering, project financing / management and business development.

Geoff Lowe Exploration Manager

Geologist with over 35 years of precious and base metal exploration, business development, project management and mining services experience in Australia and internationally.

Shane Goodwin Non-Exec Director

Extensive experience in mining corporate affairs and external relations for New Century Resources, MMG and Barrick Gold. Currently a Director of the Aboriginal Developments Trust (Gulf of Carpentaria).

Suzanne Yeates CFO & CS

Chartered accountant with over 20 years' experience as Chief Financial Officer and Company Secretary for many private and ASX-listed companies including ASX: NVX, CML, GAS, IHR and CTD.

Recognising Opportunities Early

Exceptional targets to be drilled in the first phase

Compelling new high-grade gold targets being drilled now as part of a 5,000m programme (1,000m DD and 4,000m RC)

Potential for high-grade gold to occur within an extensive Intrusion Related Gold System now defined over 7km strike – limited previous shallow drilling

First mover opportunity on a project overlooked by previous exploration

Share price growth drivers – drilling news flow + tight share structure

Tony Schreck Managing Director tschreck@pacgold.com.au +61 (0) 419 683 196

Authorised for release by the Board