TOWARDS A WORLD CLASS COPPER-GOLD DEVELOPMENT CASCABEL, NORTHERN ECUADOR

London Mines & Money

solgold.com.au

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IMPORTANT NOTICE AND DISCLAIMER These presentation slides (the “Slides”) have been issued by SolGold plc (the “Company”) in relation to an update on activities by the Company. These Slides do not comprise an admission document, listing particulars or a prospectus relating to the Company, do not constitute an offer or invitation to purchase or subscribe for any securities of the Company and should not be relied on in connection with a decision to purchase or subscribe for any such securities. The Slides and the accompanying verbal presentation do not constitute a recommendation regarding any decision to sell or purchase securities in the Company. The Slides and the accompanying verbal presentation are confidential and the Slides are being supplied to you solely for your information and may not be reproduced or distributed to any other person or published, in whole or in part, for any purpose. No reliance may be placed for any purpose whatsoever on the information contained in the Slides and the accompanying verbal presentation or the completeness or accuracy of such information. No representation or warranty, express or implied, is given by or on behalf of the Company, directors, officers, employees, agents or advisors or any other person as to the accuracy or completeness of the information or opinions contained in the Slides and the accompanying verbal presentation, and no liability is accepted by such persons for any such information or opinions or otherwise arising in connection therewith (including in the case of negligence, but excluding any liability for fraud). The Slides contain certain statements and expressions of belief, expectation or opinion which are forward-looking statements, and which relate, inter alia, to the Company’s proposed strategy, plans and objectives or to the expectations or intentions of the Company’s directors. Such forward-looking statements involve known and unknown risks, uncertainties and other important factors beyond the control of the Company that could cause the actual performance or achievements of the Company to be materially different from such forward-looking statements. Accordingly, you should not rely on any forward-looking statements and neither the Company nor SP Angel accept any obligation to disseminate any updates or revisions to such forward-looking statements. Any statement as to the past activities of the Company’s directors should not be relied upon as being an indication of their future performance. The Slides have not been approved by an authorised person for the purposes of section 21 of the Financial Services and Markets Act 2000 (“FSMA”). They are exempt from the general restriction on the communication of invitations or inducements to engage in investment activity set out in section 21 of FSMA on the grounds that they are directed only at those persons who have professional experience in matters relating to investments and who are: (i) investment professionals (within the meaning of article 19(5) of The Financial Services and Markets Act 2000 (Financial Promotion) Order 2005 as amended (the “FPO”)); (ii) persons or entities of a kind described in article 49(2)(a) to (d) of the FPO; and (iii) other persons who have professional experience in matters relating to investments and to whom it may otherwise lawfully be communicated (all such persons together being referred to as “Relevant Persons”). Any investment, investment activity or controlled activity to which the Slides relate is available only to Relevant Persons and will be engaged in only with Relevant Persons. Persons of any other description, including those that do not have professional experience in matters relating to investments, should not rely or act upon the Slides. Reliance on the communication set out in these Slides for the purpose of engaging in any investment activity may expose an individual to a significant risk of losing all of the property invested or of incurring additional liability. Any individual who is in any doubt about the investment to which these Slides relate should consult an authorised person specialising in advising on investments of the kind referred to in these Slides. Metal prices used in this presentation: US$2.20/lb for copper & US$1350/oz for gold.

solgold.com.au

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Capital Structure Capital Structure – 28 November 2016 UK AIM listed (LSE:SOLG) 23.25p Shares on issue Options Fully-Diluted Undiluted Market Capitalisation Post Capital Raising Cash (Approx)

Cascabel Ownership Structure

11%

1,428,966,604 48,951,768

15%

85%

1,477,918,373 GBP332M USD44M

100%

Top Shareholders DGR Global

14.51%

Tenstar

10.13%

Newcrest International

10.00%

Guyana Goldfields Inc

7.22%

Samuel Group (Nicholas Mather)

6.25%

solgold.com.au

Cascabel Project Rich, Big and multiple targets

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Endorsements From Tier-1 Miners

• Guyana Goldfields owns 7.22% of SolGold ̶

• Newcrest acquired 10% of SolGold in October 2016

Invested as part of Tranche 1 and Tranche 2 raisings managed by Maxit Capital

• Scott Caldwell, President and CEO of Guyana Goldfields added to SolGold’s Board ̶

Adds considerable technical and mine building expertise

• Newcrest have a right to appoint a Director to the SolGold Board, and have anti-dilution rights • Newcrest are providing technical support and advice to the Company at market rates • Newcrest bring block-cave mining expertise to the project

Significant endorsement for Cascabel from credible third parties

solgold.com.au

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The thick Carnegie Ridge introduces more copper and gold – big rich orebodies 88

84

80

76

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• Thick buoyant oceanic slabs – Carnegie Ridge • High copper gold contents

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• Low angle shallow plate collision • Melts slowly

• Metals distill into porphyry melt

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CASCABEL

• Fractured Andean plate permits high volume porphyry emplacement

Est aggregate targets up to 10 Bt @ 0.6% Cu and 0.8 Au (1.4% Cu Eq)

0

*after Gutscher, Malavieille, & Collot, 1999

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Ecuador – The porphyry belts should now yield more enormous copper deposits like they do in Chile

Chile is arid & ore bodies exposed - Lots of them

Cascabel is Eocene 38.6Ma

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Ecuador is sub-tropical, ore bodies are concealed - Yet to be discovered!

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SolGold – What can we expect as we advance Cascabel?

• Growing investment fund corporate and institutional interest • Repeat discoveries on Satellite targets in Cascabel area • Targeting a discovery based re-rating (examples below)

Imperial Minerals (Red Chris) III:

Reservoir Minerals (Timok) RMC:V

solgold.com.au

Intrepid Mines Ltd (Tujuh Bukut) IAU:ASX

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Ecuador – revealing exploration opportunity

Chilean porphyries - high and dry. Easily visible from space!

In Ecuador they are covered in jungle and cloud. We can now see through cloud, jungle and soil using state of the art geophysics

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Escondida from the air

Looking over Alpala Camp, Cascabel

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Mining Friendly Ecuador  Politically Stable  Benefited from a GDP previously strongly supported by oil revenues  Falling poverty, increasing GDP per capita  Public investment 15% of GDP – triple the Latin American average  Outstanding infrastructure  Oil Reserves declining, and prices fell -Now its time for a mining industry

Rafael Correa – President (popular, pro-mining)

 Significant improvements to mining law through tax reform and incentives

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̶

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Improved capital depreciation rules Early year tax shields/deferrals Import duty exemptions on equipment VAT recovery allowed Windfall tax improvements • Only paid after full return of capital • Applies only to very high commodity prices – US$1,500/oz Au and US$4.00/lb Cu Recent Investment Protection Agreement with Lundin Gold

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Javier Córdova Minister of Mines

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Visionary Mining Investors Turn to Ecuador

Image: Lundin Gold Inc.

● Lundin Mining created Lundin Gold to acquire Fruta Del Norte gold deposit for US$240m ● One of the largest and richest gold mines in the world (7.3 MOz, 23.8 Mt @ 9.61 g/t Au) ● MOU now signed / Construction underway ● Capital payback in 4.5 years including tax ● Strong endorsement for Ecuador Codelco, the world's largest copper producer entering a joint venture with Ecuador’s state mining company Enami EP to explore an estimated US$200 billion of untapped copper reserves at the Llurimagua deposit, 70km South of Cascabel

solgold.com.au

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Ecuador’s Gift is Cascabel’s Advantage  180km from a deep water ports at Esmeraldas, 100km San Lorenzo

 Hydro Power nearby  Local workforce  Excellent sealed, multi lane roads  Water

 4 hour drive from Quito  Elevation 600 - 1800m

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In 3.5 years with $35m SolGold has achieved             

50km2 airborne magnetics 30km2 soils mapping and 30km2 Induced Polarisation (Orion - Quantec Geophysics) 14 targets, Drilled one (Alpala) 23,700metres drilled 18 drill holes completed to date 16 (of 18) have hit the orebody at Alpala 4 intersections over 1 kilometre long Defined a Tier One copper gold asset Ecuadorean workforce of 150 people Australian and Ecuadorean Management Produced 3,000,000 seedlings Supported over 15 local businesses solgold.com.au

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Experienced Team of Operators and Experts Accomplished Geologists

Alfredo Cruz, Santiago Vaca, Carlos Diaz, Santiago Mantilla, Alvaro Guachamin, Leonardo Aguilar and Alex Chafla Nick Mather

Jason Ward

Executive Director £5.5m invested

Country Manager “easiest he’s worked on”

Plus £6.9 equity and debt

Technical Depth

• • • • •

in DGR

Dr Steve Garwin

Benn Whistler

Copper-Gold Specialist Porphyry Advisor Ex Newmont Batu Hijau expert

Tech Services Manager A Focus on detail

Geology Office Core Handling & Storage Community Relations HSE A Track Record of Discovery and Delivery of Shareholder Value

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We start with Magnetics

Site Offices

CHINAMIBCITO

TANDAYAMA -AMERICA

AGUINAGA Santa Cecilia

14 porphyry centres being evaluated: 8 High Priority targets identified to date MORAN

TRIVINIO

Alpala Central Alpala North West Alpala South East Carmen

Moran - Trivinio Aguinaga Tandayama-America Parambas

ALPALA WEST

PARAMBAS

ALPALA NW

CARMEN

Alpala Camp

ALPALA SOUTH

ALPALA CENTRAL

ALPALA SE

CRISTAL

Target- Interpreted Porphyry Centre REDUCE TO POLE TOTAL MAGNETIC INTENSITY BACKGROUND

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Porphyry Cluster - Strong geochemical signatures in soils High Soil Molybdenum

Soil Manganese Detection

Rocafuerte

TANDAYAMA -AMERICA

TANDAYAMA -AMERICA

Santa Cecilia

Santa Cecilia AGUINAGA

Porphyry Cluster

MORAN

TRIVINIO

MORAN

ALPALA WEST

ALPALA NW

ALPALA CENTRAL

ALPALA NW ALPALA CENTRAL

ALPALA CENTRAL CARMEN

ALPALA SE

PARAMBAS

PARAMBAS ALPALA WEST

ALPALA NW

Porphyry Cluster TRIVINIO

TRIVINIO PARAMBAS

ALPALA SOUTH

AGUINAGA

AGUINAGA

Porphyry Cluster

MORAN

Alpala Camp

CHINAMIBCITO

CHINAMIBCITO

Santa Cecilia

CARMEN

Site Offices

Site Offices

CHINAMIBCITO

ALPALA WEST

Rocafuerte

Rocafuerte

Site Offices

TANDAYAMA -AMERICA

High Soil Cu/Zn Ratio

CARMEN

Alpala Camp

ALPALA SOUTH

ALPALA SE

CRISTAL

CRISTAL

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Alpala Camp

ALPALA SOUTH

ALPALA SE

CRISTAL

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World leaders in man-portable drilling

Ecuadorean Drilling company - HP Hubbard Perforaciones SA

Man-portable Hydracore 2000 – modified for drilling to 2000m @ 30m /day solgold.com.au

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Cascabel is delivering some of the worlds best porphyry copper-gold intersections Operator

property

Codelco Chilean Giants Kennecott Bingham Canyon Wafi-Golpu Newcrest Mining Limited Anglo American La Poloma Anglo American Los Sulphatos Newcrest Mining Limited Wafi-Golpu Red Chris Imperial Metals Grasberg Freeport McMoran Nuevo Chaquiri Anglo Gold Ashanti SolGold Plc ● Hole 12 Cascabel SolGold Plc ● Hole 9 Cascabel Cadia Ridgeway Newcrest Oyu Tolgoi Ivanhoe Mines SolGold Plc ● Hole 16 Cascabel Nevsun Resources Limited Timok SolGold Plc ● Hole 5 Cascabel Caspiche Exeter Resources GoldQuest Mining Corporation Tireo Oyu Tolgoi Ivanhoe Mines Los Sulphatos Anglo American Red Chris Imperial Metals Hugo Dummet Ivanhoe Mines Oyu Tolgoi Ivanhoe Mines Nevsun Resources Limited Timok SolGold Plc ● Hole 15R2 Cascabel Oyu Tolgoi Ivanhoe Mines Caspiche Exeter Resources Red Chris Imperial Metals Caspiche Exeter Resources SolGold Plc ●Hole 17 Cascabel Seabridge Gold Inc. KSM

Location

Interval (m)

Cu (%)

Au (g/t)

Cu.Eq (%)

Cu.Eq (m%)

Northern Chile Utah, USA Papua New Guinea Central Chile Central Chile Papua New Guinea BC, Canada Irian Jaya Colombia Ecuador Ecuador NSW, Australia Southern Mongolia Ecuador Serbia Ecuador Northern Chile Dominican Republic Southern Mongolia Central Chile Canada Southern Mongolia Southern Mongolia Serbia Ecuador Southern Mongolia Northern Chile BC, Canada Northern Chile Ecuador Canada

unknown unknown

unknown unknown

unknown unknown

unknown unknown

unknown unknown

943.5 730.0 717.0 1421.5 1024.0 591.0 810.0 1312.0 1088.0 341.0 326.0 1145.6 205.6 1306.0 1214.0 258.0 476.0 990.0 1135.0 302.0 258.0 260.0 1338.0 422.0 1058.0 716.3 792.5 948.0 1023.4

1.44 3.58 3.6 1.14 1.01 1.7 1.65 0.67 0.66 0.93 3.77 0.78 4.81 0.62 0.9 1.27 2.16 1.26 0.5 3.11 3.68 3.1 0.49 2.48 0.7 0.79 0.96 0.6 0.24

1.28 0.00 0.00 0.64 1.26 1.80 0.78 0.63 0.89 3.86 1.23 0.63 2.88 0.54 0.33 4.47 0.67 0.00 0.59 0.98 0.98 1.39 0.36 0.21 0.35 0.74 0.40 0.53 0.77

2.56 3.19 3.20 1.65 2.16 3.31 2.25 1.23 1.48 4.69 4.59 1.32 7.16 1.09 1.13 5.60 2.59 1.12 1.04 3.75 4.26 4.15 0.80 2.42 0.97 1.44 1.25 1.06 0.98

2566 2613 2581 2530 2324 2069 1968 1706 1686 1633 1630 1615 1581 1515 1493 1481 1347 1247 1237 1235 1202 1167 1137 1135 1111 1096 1078 1071 1034

NOTES: 1. Copper equivalent conversion factor of 0.89 calculated from copper price US$2.2-/pound and gold price US$1350/ounce. 2. Intervals of 0.3% Cu

2009 Golpu Resource 160Mt @ 1.1% Cu and 0.6 g/t Au

Looking East

Reid Fault

2016 Golpu Resource 820Mt @ 1.0% Cu and 0.7 g/t Au

Looking North

Same scale Source: Newcrest – Adapting to Exploration in the 21st Century 27 June 2016

2016 Golpu Porphyry

2016 MMJV >0.3% Cu

2016 Alpala 0.3% Cu

2016 Alpala QD10 Porphyry

2016 Livana Porphyry

Looking North

Same scale

solgold.com.au

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With more drilling the greater Moran-Alpala trend could be as big as Hugo Dummet in Oyu Tolgoi, Mongolia Moran-Alpala, CASCABEL

-1500

Hugo Dummet, OYU TOLGOI

-1000

Alpala-Moran MVI Mag 0.06SI Alpala-Moran MVI Mag 0.07SI

-500

-750

-0 Probable additional Highgrade porphyry intrusion

Looking North East

Looking West

Alpala Interpolant 0.3% Cu Alpala QD10 Porphyry

Hugo Dummet Same scale

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PROBABLE ORE RESERVE 499 Mt @ 1.66 % Cu, 0.35 g/t Au

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Aguinaga - compelling geophysical signature - central mag high, annular mag low, highly chargeable root

500m

Discovery Outcrop

MVI Magnetic Inversion Model >800 nT

A

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IP Chargeability Model >145 msec

B

A

B

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Aguinaga looks like Alumbrera Aguinaga

Grasberg

Potassic zone ~ 5% - 10% magnetite

Discreet central magnetic high:

Indonesia

Chalcopyrite-Magnetite mineralization

Red ~ 1000nT

Batu Hijau

Red ~ 2000nT

Alumbrera

Surrounded by an annular magnetic low: Magnetite Destructive Alteration

Indonesia N

0

Argentina

500

Red ~ 1000nT

solgold.com.au

Red ~ 2000nT

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Potential Open Cut & Underground Development PLAN VIEW

Potential - 6000m (twin) decline development (vertical gains: Alpala 1800m / Aguinaga 1250m)

Rocafu Site erte Office

● Aguinaga RL is near surface

CHINAMBICIT O

● Alpala-Moran deeper with footprint comparable to Hugo Dummett ● Justified by 80 drill holes & paid for with 500,000 tonnes at 2.0 % Cu, 2.5g/t Au TANDAYAMAAMERICA

Bornite 70% Cu at surface at Aguinaga

SW NE

Alpala

Trivinio

Moran

AGUINAG A

Aguinaga

Santa Cecilia MORAN

RELATIVE LEVEL: “B”veining with bornite

600m

untested

Carme n

ALPALA SE CRIST AL

Proposed Decline

Proposed San Pedro Portal

Conceptual open cuts



untested Aguinaga Underground Drill Cuddy

untested

MVI Mag Models (0.009 & 0.008 SI)

SECTION VIEW Looking West Conceptual underground Development - Cascabel

Alpala Underground Drill Cuddy

SW

PARAMB ALPALA AS NW ALPALA CENTRAL

ALPALA SOUTH

untested

untested

ALPALA WEST CARMEN

Alpala Camp

“B” veining with bornite RL

0.3% Copper Shell

TRIVINIO

IP Chargeability Models solgold.com.au (Alp 80msec / Agu 12 & 145msec)

Soil Molybdenum Anomalies (>4ppm)

500m

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The Ecuador Infrastructure Gift

solgold.com.au

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The Underestimated Issue The largest existing Andean open cut copper mines are high and dry:

La Escondida

Los Broncos

Los Pelambres

Antamina

Chiquicamata

Collahausi Morenci

El Teniente Radiro Tomic

…………………………………………………………………………………………………. all experience water supply challenges

 Mining giants Rio Tinto and BHP Billiton unveiled last year the US$3.4 billion desalination plant that will supply treated seawater 10,000 feet high to their jointly owned Escondida copper mine.  Freeport- McMoran Candelaria Mine in the Atacama: US$300M desalination plant under construction

 Anglo American Mantoverde Mine in the Atacama: US$96M desalination plant under construction

 The cost of desalinated water is typically 3 times more than surface water. solgold.com.au

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Huge capital advantages, savings up to $3bn

SolGold wont have to build: • A sealed access road • A desalination plant

Enroute to Cascabel near Otavalo

Cascabel has plenty of water

Existing hydro power at Carolinas

Pacific port at Esmeraldas

• A water pipeline • A power station • A new port

solgold.com.au

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Gold Exploration Demands Larger Deeper Deposits GOLD CREDITS IN PORPHYRIES PROVIDE ACCESS TO FAST GOLD RESOURCE GROWTH Gold Discoveries (MOz) 40

No. of Deposits >1 Moz found in the world from 1950 -2014 by type

1

Gold Discoveries have a hit 70 year low

2

Only 4 Tier 1 Discoveries since 2006

215 deposits of more than 10MOz since 1950 1300 deposits of 1-10 MOz since 1950

35 30 25

Primary Gold 20

By-product Gold

Golpu, PNG / Brucejack,BC / Redhill-Goldrush, NV / Chester, ON

15 10 5 1960

01950 2020

1970

1980

1990

2000

3

Gold price forecasts are being raised Geophysics and Modelling are Key

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Alpala Central expected to hold >5 Moz

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The wider Cascabel tenement holds 14 porphyry copper-gold targets

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Cascabel combined targets > 40 Moz

2010

Source: Minex Consulting June 2016

Depth of Discoveries (MOz) Depth of Cover (m)

* size of bubble refers to overall Pre-Mined Resources in MOz

CASCABEL

World Excluding Sth Africa South Africa 1900

1920

1940

Source: Minex Consulting June 2016

1960

1980

2000

2020

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Demand rising, grades falling, profitable production declines and forces exploration for high grades – Cascabel Wins! •

Global urbanization is irrevocably driving copper demand skyward

•

Supply growth is constrained by geopolitics and technology

•

Global resource inventory grades are falling

•

Profitable Production is falling

• •

1.6% underground and 0.75% in 1990 1.1% underground and 0.5% in 2015 35_ 30_ Likely Range for Global Demand from 2015 - 2025

Copper Price - US$/ton Cu

10000 _ 9000 _ 8000 _ 7000 _ 6000 _ 5000 _ 4000 _ 3000 _ 2000 _ 1000 _

Global Copper Demand - Mt Cu

25_

~ 5Mt increase over The next decade

Increasing Demand

20_

15_

Copper Price set to close this gap.

10_

5_

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2025

2000

1980

1950

1930

1900

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2015

I

2010

0_I

USD1,000/t

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We need to find a new one of these every 15 months !

The Escondida Copper Mine, Chile: The world's largest producer same age host rocks as Cascabel. Image: BHP Billiton

“The Global copper industry needs a new Escondida mine every 15 months over the next 10 years in order to meet global demand…” Rio Tinto CEO Jean-Sébastien Jacques

solgold.com.au

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In Summary 1.

The Cascabel Project is very large & prospective with multiple targets -tier 1 copper gold intersections -geophysical similarities to other world class copper gold mines ---14 Targets and growing

2.

Low CAPEX development potential through -an abundance of water -access to port, roads and power stations

3. 4.

Support from Provincial and National Governments -new tax reforms and regulations -pro-mining Prime Minister looking to improve and expand Ecuador’s mining sector

5.

Andean Copper belt – World’s Richest -Hosts Escondida and Chuquicamata

6.

Gold endowed northern section -SolGold is drilling intersections with high cooper and gold content

7.

Motivated and invested management & highly accomplished technical team

solgold.com.au

50km² tenement area = approximately 7000 football fields

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Thank-you Nicholas Mather Executive Director Corporate Office: Level 27, 111 Eagle Street, Brisbane QLD 4000 Mobile: +61 417 880 448|Office: +61 7 3303 0660 Email: [email protected] Jason Ward President of ENSA and Exploration Manager Corporate Office: Av 12 Octubre N26-97 Abraham Lincoln Piso 11oficina 1101, Quito Ecuador Office+59326011021 / 2986606|Mobile+593 (0)990503077 Email: [email protected] Pru Maclean Investor Relations Corporate Office: Level 27, 111 Eagle Street, Brisbane QLD 4000 Mobile: +61 450 342 861|Office: +61 7 3303 0660 Email: [email protected]

Chalcopyrite from Hole 5 – 1.7% Cu & 1.9 g/t Au, 1204.1m

UK Broker and Nominated Advisor SP Angel Corporate Finance LLP Prince Frederick House 35 – 39 Maddox Street, London, W1S 2PP United Kingdom T: +44 (0) 20 3463 2260 F: +44 (0) 20 7629 1341 Qualified Person Information in this report relating to the exploration results is based on data reviewed by Nicholas Mather(BSc (Hons), Executive Director. Mr Mather is a Member of the Australasian Institute of Mining and Metallurgy who has in excess of 34 years’ experience in mineral exploration and is a Qualified Person under the AIM Rules. Mr Mather consents to the inclusion of the information in the form and context in which it appears.

Chalcopyrite from Hole 9 – 1.18% Cu & 2.26 g/t Au, 764m

solgold.com.au

@SolGold_Plc

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