GALORE CREEK MINING

PROPERTY LOCATION & ACQUISITION DATE

Project Activities In The 2022 Season

Galore Creek Mining Corp.

Head office: Vancouver, BC. Satellite office: Smithers, BC gcmc.ca

Contacts

General Inquiries

Gabe Jutras Director Social, Environmental and Regulatory Affairs

604 345 3266 gabe.jutras@gcmc.ca

LEADERSHIP

Rob Mean Project Director 604 334 4974 rob.mean@gcmc.ca

CONTRACTING

Shiro Rae Manager, Field Operations 236 986 0350 shiro.rae@gcmc.ca

EMPLOYMENT

Andrea Ross Manager, Indigenous and Regulatory Affairs

236 984 2574 andrea.ross@gcmc.ca

ENVIRONMENT

Alanna Ramsay Supervisor, Environmental Performance

236 983 4291 alanna.ramsay@gcmc.ca

The Galore Creek Project (GCP) is held in a 50:50 partnership between Teck Resources Limited (Teck) and Newmont Corporation (Newmont). The project is operated by Galore Creek Mining Corporation (GCMC). Both Teck and Newmont have other interests in Tahltan Territory.

Located in Tahltan Territory, approximately 85 km southwest of Telegraph Creek, the Galore Creek deposit was discovered in 1955. Teck’s interest in the project dates back to 1960s, when Cominco, one of Teck’s precursor companies, held an interest. In May 2007, Teck formed a 50:50 partnership with NovaGold. In July 2018, Newmont acquired NovaGold’s 50% interest in the project, forming a new Galore Creek Partnership between Teck and Newmont.

COMPANY OVERVIEW & UPDATE

Any successes or challenges you’d like to share?

We are proud to have completed a successful and safe field program in 2022; and would like to express our gratitude for Tahltan support and involvement that went into making the season a success.

In 2022 Galore Creek expanded collaboration with Tahltans to include Wildlife Guardians participating in field Grizzly bear surveys and Tahltans participating in the onsite archaeological training, with one participant obtaining employment with Kleanza as an archaeological assistant.

We continued technical working sessions with the TCG Lands Department covering topics including tailings management and the approach to Tahltan assessment. Shared Tahltan perspectives and values guide Galore Creek’s project team in field work, data collection, and designing and conducting activities throughout the project.

Investment in an education bursary program established in 2006 that supports Tahltan educational objectives continued. The GCMC-Tahltan Bursary Program has awarded 179 individual bursaries to Tahltans. In 2021, the Ann M Ball Bursary was introduced to support emerging and existing Tahltan leaders making a positive impact in their community, including Westin Creyke, who was awarded in 2022.

In 2022 Galore Creek continued to advance a prefeasibility study, planned to be completed in mid-2023. The 2022 field program consisted of re-logging drill core, completing environmental baseline and technical studies, and maintenance of equipment, facilities, and infrastructure. The main field program operated between May and September, with environmental baseline work continuing year-round.

Number of employees working on your project(s)?

During our main field program in 2022, we had between 60 and 80 employees working at two active camps. In 2023, we anticipate over 150 people during our main field season.

Where does the majority of your financing come from year to year? What’s the breakdown of who owns your company and what’s your company’s market cap?

GCMC is funded by Teck and Newmont through the Galore Creek Partnership. The GCP is held in a 50:50 Partnership between Newmont and Teck and operated by GCMC. It is not publicly traded.

Tentative plans and hopes for the 2023 season?

The GCP team is preparing for a busy 2023 season as we complete the prefeasibility study and collect data in advance of the feasibility study planned to commence in late 2023. Site activities will include approximately 25,000 m of drilling to support resource development, geotechnical and metallurgical studies and complete surficial materials testing in the Galore Creek and Upper West More Valley. Baseline monitoring is ongoing throughout the year to support project design and the major regulatory process planned to be initiated in mid-2023 to assess and incorporate project changes.