Corporate Presentation

TSX-V: MTU

Corporate Overview March 2021

Goudreau Project

TSX-V: MTU

www.manitougold.com

March 2021

1 1

TSX-V: MTU

Disclaimer Regarding Forward Looking Statements Forward-looking statements relate to future events or the anticipated performance of Manitou Gold Inc. (the “Company”) and reflect management’s expectations or beliefs regarding such future events and anticipated performance. In certain cases, forward-looking statements can be identified by the use of words such as "plans", "expects", "is expected", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates" or "believes", or variations of such words and phrases or statements that certain actions, events or results "may", "could", "would", "might" or "will be taken", "occur" or "be achieved", or the negative of these words or comparable terminology. By their very nature forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual performance of the Company to be materially different from any anticipated performance expressed or implied by the forward-looking statements.

Important factors that could cause actual results to differ from these forward-looking statements include risks related to failure to define mineral resources, to convert estimated mineral resources to reserves, the grade and recovery of ore which is mined varying from estimates, future prices of gold and other commodities, capital and operating costs varying significantly from estimates, political risks arising from operating in Canada, uncertainties relating to the availability and costs and availability of financing needed in the future, changes in equity markets, inflation, changes in exchange rates, fluctuations in commodity prices, delays in the development of projects, conclusions of economic evaluations, changes in project parameters as plans continue to be refined, uninsured risks and other risks involved in the mineral exploration and development industry.

Although the Company has attempted to identify important factors that could cause actual performance to differ materially from that described in forward-looking statements, there may be other factors that cause its performance not to be as anticipated. There can be no assurance that forward-looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements. These forwardlooking statements are made as of the date of this presentation and the Company does not intend, and does not assume any obligation, to update these forward-looking statements.

Richard Murphy, President & CEO of Manitou Gold Inc., is the Qualified Person, within the meaning of NI 43-101 and has reviewed the technical content of this presentation.

2 2

TSX-V: MTU

Capital Structure & Financial Listing (March 8, 2010 IPO)

TSX-V: MTU

Shares Outstanding

263,039,238

Options Outstanding

26,050,000 ($0.10 exercise price)

Warrants

93,693,100 ($0.9 weighted average price)

FD Share Capital

382,782,338

Management, Director, Insider and Strategic Investor Ownership Management and Directors 14% Other 58%

Alamos Gold 18%

O3 Mining

Cash

$2.5M

10%

*As of March 1, 2021

3 3

TSX-V: MTU

Management • Richard Murphy P.Geo – Chief Executive Officer (CEO) –

24 years of experience as a Senior Geologist, President and CEO of a number of TSX and TSX-V listed companies. Successfully completed multiple IPOs, financings, acquisitions and divestitures with these companies.

• Pat Dubreuil MBA. – Vice President Community and First Nations Engagement – 16 years of mining related experience, Northern Ontario Business Entrepreneur of the year 2016, R&D program director of the Centre for Excellence in Mining Innovation (CEMI) and Ultra Deep Mining Network (UDMN) in Sudbury, ON. Vice-President OFSC.

• Donato Sferra. – Vice President Corporate Development – Managing Partner of Hillcrest Merchant Partners and has extensive background in the financial service industry spanning approximately 20 years. Mr. Sferra has extensive merger experience and was intimately involved as an advisor in the merger of the four public companies in what was the formation of Osisko Mining.

• Carmelo Marrelli – Chief Financial Officer (CFO) – Chartered Accountant (CA), a Certified General Accountant (CGA), and an Associate (ACIS) of the Institute of Chartered Secretaries

and Administrators (ICSA). He also has a Bachelor of Commerce degree from the University of Toronto. Carmelo also acts as Chief Financial Officer to a number of reporting issuers on the TSX and TSX Venture exchanges

4 4

TSX-V: MTU

Independent Directors • Guy Mahaffy – is the Managing Director of W.G. Mahaffy Limited, a financial advisory firm. He holds the professional designations of Chartered Accountant, Chartered Professional Accountant and Chartered Financial Analyst.

• Blair Zaritsky – currently serves as the Chief Financial Officer of O3 Mining Inc. and Osisko Mining Inc. (“Osisko”) and also serves as a director of Talisker Resources Inc. and formerly served as a director of Barkerville Gold Mines Ltd. In August 2015, he was a key part of the successful merger of four companies that helped obtain the flagship Windfall Lake assets that has significantly grown Osisko to over $1-billion market capitalization

• Dan McCormack – 30 years in various capacities, including serving as an officer and director of a number of companies. He recently was a director and Vice President of Vault Minerals Inc., held positions with Canadian Malartic and was a consultant to Yamana Gold and Agnico Eagle under Osisko Mining.

He previously held the position of General Superintendent of Exploration at Kirkland Lake and Malartic. He is semi-retired since 2018.

• Peter MacPhail – 35 years of operational mining experience in Canada, Mexico and Australia. Mr. MacPhail is the Chief Operating Officer of Alamos Gold Inc (“Alamos”), a position he has held since 2015. Previously, he was Chief Operating Officer of AuRico Gold and served in the same capacity at Northgate Minerals. He holds a Bachelor of Applied Science degree in Mineral Engineering from the University of Toronto and is a licensed Professional Engineer in Ontario.

5 5

TSX-V: MTU

Goudreau Project Timeline

Largely Completed Property Assembly

1st Property Acquisition

Oct 2017

2017

July 2019

2018

2019

Alamos Gold, O3 Mining Make Strategic Investments

Dec 2019

1st Significant Gold Intersected on BDZ

Jan 2021

2020

2021

6 6

TSX-V: MTU

Towards Discovery of the Next Gold Mine in a Producing Archean Gold Camp • Recent and significant land consolidation in the Michipicoten greenstone belt • 90 km of under-explored deformation zones with numerous high-grade gold occurrences in an Archean-age orogenic gold setting • Island Gold and Renabie mines ‘book-end’ Manitou’s land package

7 7

TSX-V: MTU

Goudreau Project • 350 square kilometres of contiguous mining lands between Alamos’ Island Gold mine and Argonaut’s Magino deposits and the past-producing Renabie mine • Ongoing drill program focused on targeting high-grade gold mineralization along the 18 km long Baltimore deformation zone, which represents the fault offset extension of the Goudreau-Localsh deformation zone that hosts the majority of the more significant showings and deposits in the camp • GLDZ has been tested with more than 1,000,000 m of diamond drilling for gold, whereas the BDZ remains largely unexplored with only 4,400 m of historic drilling for gold; Recent drill results show that the BDZ is a fertile corridor for orogenic gold deposits with abundant opportunity for discovery of multiple gold deposits

, Argonaut Gold

, Alamos Gold Inc.

8 8

TSX-V: MTU

Baltimore Deformation Zone (“BDZ”) & Targets over TMI Magnetic Map • The BDZ represents a crustal-scale fault system that is the key target for orogenic gold mineralization • Priority targets in close proximity to major structural intersections (BDZ and dominantly NW to NE striking crossfaults) and near the triple junction of three granitic intrusions

Easy Lake Batholith Rennie Lake Batholith

Harcourt Lake Stock

Stover Zone

• Current 10,000 m drill program focused on southeastern 4.5 km segment of the BDZ

9 9

TSX-V: MTU

Stover Grid Drill Plan showing Total Magnetic Intensity • Geophysics highlights the alteration and mineralization associated with gold bearing veins at the Stover zone

MTU-21-21 8m @ 0.3 g/t Au

West Extension Zone

MTU-21-10 49m @ 0.7 g/t Au Incl 9.9m @ 1.8 g/t Au

• Gold mineralization at the Stover zone is associated with a 4 km long magnetic-low feature

MTU-20-56 15m @ 1.5 g/t Au Incl 3.3m @ 3.5 g/t Au

Legend

• Most important gold mineralization is proximal to intersection of 050° 060° striking fault zone and the NE striking “Main” shear

Au g/t 0.1 to 0.3 0.3 to 0.5 0.5 to 1.0 1.0 to 3.0 3.0 to 10.0

Drill Holes MTU Collar - This Release MTU Collar - Results Pending MTU Collar

Stover Zone

Hole Trace

Interpreted Structures “Main Shear”, Central Axis Fault Mineralized Trend

MTU-21-24 12.3m @ 0.4 g/t Au 6m @ 0.6 g/t Au

• Main shear now drill confirmed over 2 km strike length

MTU-21-25 5m @ 0.6 g/t Au

East Extension Zone

1010

TSX-V: MTU

Stover Zone Long Section Mar 2021 • Sixteen holes to date; all holes encountered wide zones alteration/ mineralization and associated gold mineralization • Remains open along strike and depth • Next step is to test Stover zone at vertical depths of approximately 450 metres

7.6m @ 1.0 g/t Au

-100m 39.9m @ 0.5 g/t Au

Core length(1) Hole ID From To Au (g/t) (m) MTU-20-49 48.3 55.9 7.6 1.0 MTU-20-49 85.6 125.5 39.9 0.5 MTU-20-52 102.6 120.6 18 0.8 incl.

111.7 113.8 2.1 3.3 MTU-20-52 124.5 140.9 16.4 0.4 incl.

124.5 136.0 11.5 0.5 MTU-20-53 104.7 116.5 11.8 0.3 MTU-20-56 136.6 185.7 49.1 0.6 incl.

149.8 164.8 15 1.5 incl.

158.6 163.9 5.3 2.7 incl.

159.6 162.9 3.3 3.5 MTU-21-02 132.6 146.4 13.8 0.5 MTU-21-03 150.7 208 57.3 0.3 & incl.

162.3 167.3 5.0 1.5 MTU-21-07 186.9 223.4 36.5 0.5 incl.

198.5 202.9 4.4 1.8 MTU-21-10 291.0 340.0 49 0.7 & incl.

318.1 328.0 9.9 1.8 incl.

322.1 325.1 3 4.0 (1) Lengths are reported as core lengths. True estimated at 70% to 80% of reported intervals.

15.0m @ 1.5 g/t Au Incl. 3.3m @ 3.5 g/t Au

36.5m @ 0.5 g/t Au Incl. 4.4 @ 1.8 g/t Au

49.1m @ 0.6 g/t Au

-200m

-300m

Planned Hole MTU-21-12

Highlight Drill Intersections

57.3m @ 0.3 g/t Au Incl. 5.0 @ 1.5 g/t Au

49m @ 0.7 g/t Au Incl 3.0m @4.0 g/t Au

Current Result:

Open

Previously Released:

1111

TSX-V: MTU

Stover Zone Drilling

Representative mineralized interval in MTU-21-10 which returned 9.9 m at 1.8 g/t Au, including 3.0 m at 4.0 g/t Au

• Stover zone hosted in highly deformed package of felsic pyroclastic rocks cut by a series of gabbroic dikes • Wide zones of sericite-carbonate and local potassic alteration with associated compressional quartz veins.

• Up to 15 % sulfides (Py +/- As & Po)

Representative samples from core of mineralized zone in hole MTU20-56 (~160 down hole) Intercept returned 5.3 g/t Au over 1.0 m within a wider mineralized zone that returned 15 m at 1.5 g/t Au

1212

TSX-V: MTU

Budget Baltimore Deformation Zone

Stover Lake Budget for Q4 ’20 – Q2 ‘21: $2.2 M Minimum Description

Cost ($)

Drilling (10,000m)

2,000,000

Detailed Ground Geophysics

200,000

Total

2,200,000

1313

TSX-V: MTU

Goudreau Project Recap • 90 km of under-explored deformation zones with numerous high-grade gold occurrences, deposits in a orogenic gold environment • Island Gold and Renabie mines ‘book-end’ Manitou’s land package • Continuation of 10,000 m drill program with two drills with focus on Baltimore deformation zone

www.manitougold.com

1414