P2 GOLD

PROPERTY LOCATION & ACQUISITION DATE

The BAM Property consists of ten mineral tenures that cover an area of over 8,100 ha located approximately 35 km west of Bob Quinn Lake. P2 Gold optioned BAM in July 2020, shortly after we formed our company, P2 Gold Inc.

Project Activities In The 2022 Season

P2 Gold established an exploration camp at BAM, and conducted mapping, sampling, geophysics and drilling at the property (13,958 m in 95 holes) during the season from June through September.

Number of employees working on your project(s)?

We anticipate roughly 50 individuals will be working on the BAM Project during the 2023 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?

Contacts

General Inquiries

Michelle Romero

Executive

Vice President

778 731 1060 michelle.romero @p2gold.com

Leadership

Joe Ovsenek

President & CEO

778 731 1055 joe.ovsenek@p2gold.com

COMPANY OVERVIEW & UPDATE

Any successes or challenges you’d like to share?

The 2022 drill program at BAM was focused on finding the limits of the epithermal surface mineralization at the Monarch Gold Zone first discovered by P2 in 2020, and on generating data to aid in the interpretation of airborne and ground geophysical surveys. As a result of the exploration work completed in 2022, nearsurface gold mineralization has now been defined over a strike length of more than one kilometer in the Monarch Gold Zone and is open in all directions. The interpretation of the geophysical surveys suggests a feeder system for the near-surface gold mineralization and an associated porphyry at depth. The initial Mineral Resource Estimate for the near-surface mineralization at BAM’s Monarch Gold Zone was subsequently reported by P2 in January 2023 and comprises an Inferred Mineral Resource of 520,000 ounces of gold at a grade of 0.59 grams per tonne (see news release dated January 24, 2023).

P2 Gold (PGLD) is a TSX-Venture Exchange-listed company. We raise money by issuing shares through financings. Our investors are Canadian, American, and European. Management owns approximately 25% of the PGLD shares, Waterton (private equity firm) owns approximately 17%, and the remainder are owned by the public. Most of our shareholders are Canadian. Our market cap is $22 million (as of January 27, 2023).

Tentative plans and hopes for the 2023 season?

We hope to follow-up on the results from the 2022 field season with an exploration program of approximately 14,000 m focused on testing the feeder zones of the Monarch Gold Zone and the porphyry system at depth, as well as expansion of the near-surface gold mineralization. We will also initiate the permitting process for an access road (the BAM Property is located less than 2 km from the Galore Creek access road, and presently access to the property is by helicopter only).

RELATIONSHIP WITH THE TCG & TAHLTAN NATION

During the 2022 season, what involvement did TCG personnel and departments have with your company? If they were not involved, why not?

We engaged both with the Tahltan Central Government (TCG)’s Communications & External Relations and Employment & Business departments.

In 2022, how many Tahltans did you employ? What positions did they hold in your company and what percentage of Tahltans did you employ compared to others?

In 2022 we directly employed one Tahltan as part of the season’s contracted field staff at BAM which totalled ten persons.

The majority of the remaining workforce (required to operate the camp/ catering) were provided by Northern Labour Services, of which five out of 14 were Tahltan. Additionally, Northern Labour Services provided five individuals to work in our core warehouse based in Stewart.

A total of 60 individuals worked out of the BAM camp in 2022, of which 24 were employed by Tahltan entities (40% of total individuals).

For the ten field staff directly employed by P2, the total person days reflect 13% Tahltan and 87% non-Tahltan.

What employment opportunities, now and in the future, are available to Tahltan members?

We have employment opportunities for Tahltan geologists and camp support at BAM during our current, early exploration stage. If we have, in fact, made a significant gold discovery on the property, we would plan to advance it quickly and offer considerably more employment opportunities with jobs related to advanced exploration, camp construction, and permitting.

Why should Tahltan members want to work for you?

P2’s senior management team previously founded Pretium Resources and established and operated the Brucejack Mine where many Tahltans were (are) employed. We believe those Tahltans who worked with us at the time experienced a respectful workplace where employees were treated well. It is our intention to grow P2 and advance BAM with the same principles.

Did you have any Tahltan contractors working for your company? What percentage of your contracting dollars went to Tahltan companies, including TNDC and their joint ventures?

Yes. Discovery Drilling (30%), Yellowhead Helicopters (25%), Inner City Diesel (5%), Northern Labour Services (5%), Wild Timber Industries, Tuya Woodcraft (1%), Tahltan Allnorth Consulting (1%), Crooked Horn Expediting (1%), and Keda Propane (1%).

Do you have any outside contractors working for you? If so, who are they? Who were the primary contractors you utilized?

Yes. ALS Labs (10%), Miscellaneous Services (8%), Paul’s Drill Pad Services (5%), C.J. Greig & Associates (3%), Northwest Fuels (2%), Geotech Airborne (2%), and North Country Rentals (1%).

Anything else you would like to share with the Tahltan Nation?

P2’s team is excited about the prospects for the BAM gold discovery, and we look forward to working with the Tahltan Nation to advance the project.

MINERAL EXPLORATION COMPANY