SUNSHINE METALS LIMITED — AGM Information 2021

Nov 17, 2021

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Annual General Meeting

18 November 2021

RC DRILLING SOUTH CON, TRIUMPH PROJECT

ASX: SHN

Disclaimer & Disclosure

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This presentation includes forward-looking statements. When used in this document, the words such as "could", "plan", "estimate", "expect", "intend", "may", "potential", "should" and similar expressions are forward-looking statements. Although Sunshine Gold Ltd. (“Sunshine Gold ") believes that the expectations reflected in these forward-looking statements are reasonable, such statements involve risks and uncertainties and no assurance can be given that actual results will be consistent with these forward-looking statements.

This presentation has been prepared by Sunshine Gold for the purpose of providing an overview of its current prospects and development strategy to recipients. This presentation and its contents are provided to recipients in confidence on the basis that it may not be reproduced or disclosed in whole or in part to any other person, without the written consent of Sunshine Gold.

This presentation is provided on the basis that neither Sunshine Gold nor its respective officers, shareholders, related bodies corporate, partners, affiliates, employees, representatives and advisers, make any representation or warranty (express or implied) as to the accuracy, reliability, relevance or completeness of the material contained in this presentation and nothing contained in the presentation is, or may be relied upon, as a promise, representation or warranty, whether as to the past or the future. Sunshine Gold hereby excludes all warranties that can be excluded by law.

All persons should consider seeking appropriate professional advice in reviewing the presentation and all other information with respect to Sunshine Gold and evaluating the business, financial performance and operations of Sunshine Gold. Neither the provision of the presentation nor any information contained in the presentation or subsequently communicated to any person in connection with the presentation is, or should be taken as, constituting the giving of investment advice to any person.

All amounts shown are in Australian dollars unless otherwise stated.

Gold Intercepts are based on no internal dilution @ 1g/t cut off.

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Corporate Overview

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Corporate Information
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ASX Code	SHN
Share Price	$0.047
Shares on Issue	548.8M
Performance Securities	117.0M
Unlisted Options Ex $0.03	71.0M
Market Capitalisation	$25.79M
Cash (30 Sept 2021)	$5.6M
Top 20 Holders	53.0%
• Directors	25.6%
Directors Investment To Date	$2.7M

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Board of Directors
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Damien Keys Managing Director PhD (Struct. Geo), MAIG	Geologist with over 20 years mining and exploration experience. Led teams to exploration success at Spectrum Metals, Black Cat Syndicate, Silver Lake Resources
	and Gold Fields Australia.
Alec Pismiris	Current directorships with Agrimin, Frontier
Chairman, CoSec and CFO B.Comm, MAICD, FGIA, FCIS	Resources, Market Herald and TSX listed Pacton Gold.
Anthony Torresan Non-Executive Director	Significant experience in capital for ASX listed companies and unlisted public
	companies, providing IR services and
	assisting boards with development of
	strategic plans.
Paul Chapman Non-Executive Director	Founding Chairman of Silver Lake Resources, directorships with Reliance Mining, Rex
B.Comm, ACA, Grad. Dip. Tax, MAICD, MAusIMM	Minerals and Avanco Resources. Currently Chairman of Encounter Resources, Black Cat
	Syndicate and Dreadnought Resources.

Previous roles include senior executive roles with WMC, Reliance Mining and Consolidated Minerals, founding Managing Director of Silver Lake Resources and director of Spectrum Metals. Currently Director of Black Cat Syndicate.

Les Davis

Non-Executive Director MSc (Min. Economics)

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Project Portfolio

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TRIUMPH GOLD PROJECT (100%)

• 15km² intrusion related gold/orogenic system under shallow alluvial cover

• 2 granted EPM’s, spanning 138 sqkm

• Maiden JORC Resource expected March 2022

RAVENSWOOD WEST GOLD – COPPER – REE PROJECT (100%)

• Prospective for porphyry Cu-Au-Mo, intrusion-related Au and REE

• 6 granted EPM’s spanning 446 sqkm

• RC drilling at Keans & Titov (Cu-Au-Ag-Mo), Dreghorn (Au)

HODGKINSON GOLD PROJECT (100%)

• Highly prospective structural environment along 3 major regional shears

• 6 granted EPM’s covering 365 sqkm

• 5,500 line km airborne magnetic survey flown November 2020

• Campbell Creek Au soil anomaly ~ 1.5 km strike

INVESTIGATOR COPPER PROJECT (100%)

• Greenfields project in the world-class Mt Isa Inlier

• Same stratigraphic and structural setting as the Capricorn Copper Mine

• • 2 granted EPM’s covering 115 sqkm

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2021 Highlights

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• Relist 11 December 2020

• Completion of successful maiden drilling campaign at Triumph

• Acquisition of the Ravenswood West Cu-Au-Ag-Mo-REE Project

• Boots on ground field work across Triumph, Hodgkinson, Ravenswood

• 14,713 m of RC drilling

• 2,487 soil samples collected

• First drilling at Titov/Keans (RW) in over 50 years

• Recommencement of resource drilling at Triumph – 2 RC rigs

• Acknowledge herculean effort of Matt Price (Exploration Manager) and our dynamic field teams

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Triumph Gold Project

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• 50 km south of mining centre Gladstone

• 7,126m RC drilling campaign completed in March 2021

• Drilling success at Super Hans, Big Hans & New Constitution

• RC drilling recommenced 10 November 2021

• Infill and extension to delineate JORC program

• Resource for release March 2022

• 8,630m planned (RC and diamond)

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Triumph RC Drilling Campaign

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• RC drilling to test a range of prospects

• Geochem and structural reinterpretation lead to exploration success at Super Hans, Big Hans and New Constitution – Southern Corridor

• Results include;

• 16 m @ 5.48 g/t Au (34m, 21SHRC002) SUPER HANS

• • 3 m @ 12.95 g/t Au (30m, 21SHRC003) SUPER HANS

• 11 m @ 3.23 g/t Au (31m, 21SHRC006) SUPER HANS

• 10 m @ 2.96 g/t Au (11m, 21SHRC001)

SUPER HANS

• 4 m @ 27.12 g/t Au (43m, 21BNRC001) BIG HANS

• 4 m @ 11.53 g/t Au (69m, 21BNRC006) BIG HANS

• 2 m @ 9.56 g/t Au (63m, 21BNRC007) BIG HANS

• 8 m @ 2.59 g/t Au (77m, 21BNRC005)

• BIG HANS

• 6 m @ 13.11 g/t Au (96m, 21NCRC008)

• • 3 m @ 10.30 g/t Au (64m, 21NCRC002)

SOUTH CON

NEW CON

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2.5km Long Triumph Southern Corridor

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Ravenswood West Cu-Au-Ag-Mo-REE Project

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• Acquired in late March 2021

• Greater district produced over 20 Moz Au

• Adjacent the 9.8 Moz Ravenswood Gold Mine (EMR). > $300M being spent on recommissioning

• Highly prospective for intrusion-related and orogenic gold, porphyry CuAu-Ag-Mo and REE

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Ravenswood West Prospects

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• Active since April 2021, conducting early stage field work and reconnaissance drilling across the entire tenure.

• ~15km long Cu-Au-Ag-Mo zone with 7 key targets

• Drilling in 1950’s & 1960’s confirmed broad zones of Cu-Mo, not assayed for Au-Ag

• Large scale targets with known mineralisation will be tested throughout 2022

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Dreghorn Au Prospect

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• Strong soil anomalism > 100 ppb Au across 9km of strike

• • Defined extension of Kirkers workings over 1.5 km strike – high priority for 2022 drilling

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Keans Cu-Au-Ag-Mo Prospect

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• Adjacent major regional shear zone

• • Undrilled since 1962

• • Gold mined from Heuirs Shaft in 1930’s

• • Rock chip samples collected in 1961, from Heuirs Shaft contained; • 25.04 % Cu

• • 8.71 g/t Au

• • 578.55 g/t Ag

• • 0.26% Mo

• No drilling beneath Heuirs Shaft

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Keans Cu-Au-Ag-Mo Prospect

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• Drilled 15 RC holes (1,830m) testing 21KNRC004 mapped veins and geophysical targets under cover 21KNRC004 21KNRC005

• • Encouraged by veining, sulphide and 21KNRC004

• alteration

• • Assays pending - due end November 2021 21KNRC011 28m to 29m

• Qtz veining – sericite alteration + pyrite

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Titov Cu-Au-Ag-Mo Prospect

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• Malachite-stained granodiorite with abundant quartz veins

• 8 RC holes (1,550m) drilled

• Assays returned for first two holes drilled:

• 121m @ 0.35 % Cu, 0.11 % Mo, 1.99 g/t Ag, from 1m

• 91m @ 0.25 % Cu, 0.05 % Mo, 1.37 g/t Ag, from surface

• 8m @ 0.26 % Cu, 0.06 % Mo, 1.49 g/t Ag, from 109m

• 14m @ 0.25% Cu, 0.04 % Mo, 1.24 g/t Ag, from 135m

• Yet to explain gold anomalism in soils & rock chips

• Deep diamond hole planned in 2021, testing IP chargeability anomaly

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Gagarin Cu-Au-Ag-Mo Prospect

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• Magnetic & radiometric anomaly

• SHN mapped and rock chip sampled:

• 10.96% Cu, 0.48 g/t Au, 4.61 g/t Ag, 0.10% Mo (GG001)

• Shallow RC (1999) encouraging

• North and south targets undrilled

Sample GG013: 4.31% Cu, 0.45 g/t Au, 3.01 g/t Ag, 414 ppm Mo

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Summary

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• Qld focussed Au-Cu explorer with 4 highly prospective projects

• Experienced, successful management team and North Queensland based technical team

• Maiden JORC Resource at Triumph Au Project in March 2022

• Drilling underway

• 15km long Cu-Au-Ag-Mo zone with known mineralisation at Ravenswood West

• Assays pending

• Titov deep diamond hole to test large IP anomaly

• Drilling of 6 other targets in 2022

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Connect with us: Registered office 5 / 16 Nicholson Road, Subiaco, 6008 QLD office 3/50 Tully Street, South Townsville, 4810 P +61 8 6245 9828 E admin@shngold.com.au W www.shngold.com.au Facebook Sunshine Gold Ltd

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