Download pdf - CAUTIONARY NOTES AND TECHNICAL DISCLOSURES · es/mates referenced in this press release use the terms “Indicated Mineral Resources” and “Inferred Mineral Resources”. While

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All statements in this presenta/on, other than statements of historical fact, are "forward-looking informa/on"with respect to Pilot Gold within themeaning of applicable securi/es laws, including statements that addressresourcepoten/alquan/tyand/orgradeofminerals,poten/alsizeofamineralizedzone,poten/alexpansionofmineraliza/on, the /ming of and results of future resource es/mates, /ming of explora/on and developmentplans and /ming of obtaining permits or comple/ng earn-in obliga/ons at the Company’s mineral projects.Forward-lookinginforma/onisoIen,butnotalways,iden/fiedbytheuseofwordssuchas"seek","an/cipate","plan", "con/nue", "planned", "expect", "project", "predict", "poten/al", "targe/ng", "intends", "believe","poten/al", and similar expressions,ordescribesa "goal", or varia/onof suchwordsandphrasesor state thatcertain ac/ons, events or results "may", "should", "could", "would", "might" or "will" be taken, occur or beachieved.Forward-lookinginforma/onisnotaguaranteeoffutureperformanceandisbaseduponanumberofes/mates and assump/ons of management at the date the statements are made including, among others,statementsthataddressfuturemineralproduc/on,reservepoten/al,poten/alsizeand/orgradeofamineralizedzone,poten/alexpansionofmineraliza/on,poten/altype(s)ofminingopera/on;proposed/mingofexplora/onanddevelopmentplansattheCompany’smineralprojects;/mingandlikelihoodofdeploymentofaddi/onaldrillrigs;successfuldeliveryofresultsofmetallurgical tes/ng;thereleaseofan ini/alresourcereportonanyofourproper/es; assump/ons about future prices of gold, copper, silver, and othermetal prices, currency exchangerates and interest rates, metallurgical recoveries, favourable opera/ng condi/ons, poli/cal stability, obtaininggovernmentalapprovalsandfinancingon/me,obtainingrenewalsforexis/nglicencesandpermitsandobtainingrequiredlicencesandpermits,labourstability,stabilityinmarketcondi/ons,availabilityofequipment,accuracyofany mineral resources, successful resolu/on of disputes and an/cipated costs and expenditures. Manyassump/onsarebasedonfactorsandeventsthatarenotwithinthecontrolofPilotGoldandthereisnoassurancetheywillprovetobecorrect.Such forward-looking informa/on involvesknownandunknown risks,whichmaycause theactual results tobemateriallydifferentfromanyfutureresultsexpressedor impliedbysuchforward-lookinginforma/on, including,butnotlimitedto,relianceoftechnicalinforma/onprovidedbyourjointventurepartnersorotherthirdpar/es,changesinprojectparametersasplanscon/nuetoberefined;inabilitytoupgradeinferredmineralresourcestoindicatedormeasuredmineralresourcesorsubsequentlyreserves;possiblevaria/onsingradeorrecoveryrates;amountor/mingofproposedproduc/onfigures;currentandproposedexplora/onanddevelopment;thecostsand /ming of explora/on and development of new deposits; failure of equipment or processes to operate asan/cipated; the failure of contracted par/es to perform; uses of funds in general including future capitalexpenditures,explora/onexpendituresandotherexpenses for specificopera/ons; theability to fundcash-callsmadebyTMSTforongoingexpenditureatHalilağa,es/matedfutureworkingcapital,thecost,/mingandsuccessofexplora/onac/vi/esgenerally, including thedevelopmentofnewdeposits, the/ming,/melineandpossibleoutcomeofpermiTngorlicenserenewalapplica/ons;poten/alforhighgradetorecurbeyondKinsley’sWesternFlank;theabilitytomaintainorconverttheunderlyinglicensesthatcompriseTVTowerandHalilağainaccordancewith the requirementsof theTurkishMiningLaw,government regula/onofexplora/onandminingopera/ons,environmentalrisks, includingsa/sfac/onofrequirementsrela/ngtotheperiodicsubmissionsofEnvironmentalImpactAssessments,theuncertaintyofnego/a/ngwithforeigngovernments,expropria/onorna/onaliza/onofproperty without fair compensa/on, adverse determina/on or rulings by governmental authori/es delays inobtaining governmental approvals, government regula/on of explora/on and mining opera/ons, and theapplica/on thereof inaccordancewith the ruleof law,possibleclaimsagainst theCompanyor its jointventurepartners, the impactofarchaeological, culturalorenvironmental studieswithinpropertyareas,/tledisputesorclaims,limita/onsoninsurancecoverage,theinterpreta/onandactualresultsofhistoricalproduc/onatcertainofourexplora/onproper/es, changes inprojectparametersasplans con/nue tobe refined; currenteconomiccondi/ons; futurepricesof commodi/es;possiblevaria/ons ingradeor recovery rates; failureofequipmentorprocessestooperateasan/cipated;thefailureofcontractedpar/estoperform;labourdisputesandotherrisksoftheminingindustry;delaysinobtaininggovernmentalapprovals,financingorinthecomple/onofexplora/onaswellasthosefactorsdiscussedintheCompany’sAnnual Informa/onForm("AIF")fortheyearendedDecember31,2015,datedMarch18,2016underPilotGold’sSEDARprofileatwww.sedar.com.AlthoughPilotGoldhasacemptedtoiden/fyimportantfactorsthatcouldcauseactualac/ons,eventsorresultstodiffermaterially fromthosedescribed in forward-looking informa/on, theremaybeother factors that causeac/ons,eventsor resultsnot tobeasan/cipated,es/matedor intended.Therecanbenoassurance that suchinforma/on will prove to be accurate as actual results and future events could differ materially from those

an/cipated insuchstatements.PilotGolddisclaimsany inten/onorobliga/ontoupdateorreviseanyforward-looking informa/on, whether as a result of new informa/on, future events or otherwise. Accordingly, readersshouldnotplaceunduerelianceonforward-lookinginforma/on.

MoiraSmith,Ph.D.,P.Geo,ChiefGeologist,PilotGold,andQualifiedPersonunderNa/onalInstrument43-101("NI43-101"),hasreviewedandapprovedthecontentsofthispresenta/on.

Unlessstatedotherwise,informa/onofascien/ficortechnicalnatureinthispresenta/onregardingtheTVTower,Halilaga, Kinsley Mountain or Goldstrike proper/es are summarized, derived or extracted from, the followingtechnicalreports:•  “IndependentTechnicalReportfortheTVTowerExplora/onProperty,Canakkale,WesternTurkey",effec/ve

January21,2014anddatedFebruary20,2014,co-authoredbyCaseyM.Hetman,P.Geo.withSRKConsul/ng(Canada) Inc.; JamesN.Gray, P.Geo. ofAdvantageGeoservices Ltd., andGary Simmons, BSc,MetallurgicalEngineering,ofGLSimmonsConsul/ngLLC.;

•  "RevisedPreliminaryEconomicAssessmentTechnicalReportHalilagaProject,Turkey",effec/veDecember20,2014 and dated February 16, 2015, prepared by JDS Energy&Mining Inc.with input from SRKConsul/ng(Canada),GLSimmonsConsul/ngLLC,KirkhamGeosystemsLtd.,andAdvantageGeoservicesLtd.(asupdatedbytheCompany’snewsreleasedatedJanuary29,2015);and

•  “Updated Technical Report and Es/matedMineral Resources for the Kinsley Project, Elko andWhite PineCoun/es, Nevada, U.S.A.” effec/ve October 15, 2015 and dated December 16, 2015 prepared byMichaelGus/n,CPG,MoiraSmith,Ph.D.,P.Geo.AndGaryL.Simmons,MMSAQP;and

•  “Technical Report on the Goldstrike Project,Washington County, Utah, U.S.A.” effec/ve April 1, 2016 anddatedOctober7,2016preparedbyMichaelGus/n,CPGandMoiraSmith,Ph.D.,P.Geo.

The technical reports forTVTower,HalilagaandKinsleyMountainhavebeenfiledunder theCompany’s issuerprofileonSEDARatwww.sedar.com. Technical informa/onpertainingtoGoldstrikehasbeensummarizedfromnewsreleasespreparedbyorunderthesupervisionofMoiraSmith,andareavailableunderPilotGold’sSEDARprofileatwww.sedar.com,oronPilotGold’swebsiteatwww.pilotgold.comGoldstrike, Black Pine and Baxter Springs are early-stage explora/on projects and do not contain any mineralresourcees/matesasdefinedbyNI43-101.Thepoten/alquan//esandgradesdisclosedhereinareconceptualinnatureandtherehasbeeninsufficientexplora/ontodefineamineralresourceforthetargetsdisclosedherein.Itisuncertainiffurtherexplora/onwillresultinthesetargetsbeingdelineatedasamineralresource.

Legacydatawasdevelopedbypreviousoperatorsoftherespec/veprojects.PilotGoldisprovidingthislegacydataforinforma/onalpurposesonly,andgivesnoassuranceastoitsreliabilityandrelevancetotheCompany’scurrentresults and proposed explora/on programs. Pilot Gold has not completed any quality assurance program orappliedqualitycontrolmeasurestothelegacydata,norhasaQualifiedPersondonesufficientworktoverifythesource of the legacy data. Legacy data prdates the introduc/on of Na/onal Instrument 43-101 and/or wasdevelopedbyotheroperators,andaccordingly,shouldnotbereliedupon.TheCompanyexpectstoexpose,mapandsampletargetsontheseproper/estobecerdefineandvalidateresultsaheadofsubsequentdrilling.Cau$onaryNotetoUnitedStatesInvestorsConcerningEs$matesofMeasured,IndicatedandInferredResources

Mineralresourcesthatarenotmineralreservesdonothavedemonstratedeconomicviability.Mineralresourcees/matesdonotaccount formineability, selec/vity,mining lossanddilu/on.Thesemineral resourcees/matesinclude inferredmineral resources that are normally considered too specula/ve geologically to have economicconsidera/onsapplied to themthatwouldenable themtobecategorizedasmineral reserves.There isalsonocertainty that these inferredmineral resourceswillbeconverted tomeasuredand indicatedcategories throughfurther drilling, or into mineral reserves, once economic considera/ons are applied. The mineral resourcees/mates referenced in this press release use the terms “IndicatedMineral Resources” and “InferredMineralResources”.WhilethesetermsaredefinedinandrequiredbyCanadianregula/ons(underNI43-101),thesetermsarenotrecognizedbytheU.S.Securi/esandExchangeCommission(“SEC”)."InferredMineralResources"haveagreatamountofuncertaintyastotheirexistence,andgreatuncertaintyastotheireconomicandlegalfeasibility.The SEC normally only permits issuers to report mineraliza/on that does not cons/tute SEC Industry Guide 7compliant “reserves” as in-place tonnage and grade without reference to unit measures. U.S. investors arecau/onednot toassumethatanypartorallofmineraldeposits in thesecategorieswilleverbeconverted intoreserves.PilotGoldisnotanSECregisteredcompany.

CAUTIONARYNOTESANDTECHNICALDISCLOSURES

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INVESTMENTHIGHLIGHTSPROJECTS•  FocusedonCarlin-stylegoldadvancedexplora/onprojectsintheU.S.

-  Goldstrike–Utah(100%)-  BlackPine–Idaho(100%)-  Kinsley–Nevada(79%)-  BaxterSprings–Nevada(100%)

•  Ac/velylookingtoacquireaddi$onalgolddepositsandprojectsinNorthAmericawithnear-termproduc/onpoten/al

•  Assessingstrategicop/onsforTurkishassetporrolio

PEOPLE

•  Proventechnical&managementteamwithtrackrecordofsuccess•  Teamhasdiscoveredand/oradvancedsevendepositsthatarenowindevelopmentorproduc/on

•  SameteamthatadvancedLongCanyon

-  3.4Mozsgrading2.2g/tinresources&reservesthatFronteersoldtoNewmontforUS$2.3Bin2011

CAPITALMARKETS•  Strongcashposi/on(C$14.4MBoughtDealFinancingcompletedNovember16,2016)andsupportedbylargestrategicshareholderbase(Newmont&Teck)

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MANAGEMENTTEAM&BOARDOFDIRECTORS

BoardofDirectors

CalEvere`–President,CEO&Director•  Founder,President&CEOofAxemenResourceCapital

•  Ins/tu/onalSales&CapitalMarketsatPIFinancial•  InvestmentAdvisoratBMONesbicBurnsMarkO’Dea–ChairmanoftheBoard•  Co-FounderofOxygenCapitalCorp.•  FormerExecu/veChairmanofTrueGoldMining•  Founder,FormerPresident&CEOofFronteerGold&AuroraEnergy

RobPease–Director•  FormerPresident&CEOofSabinaGold&Silver•  FormerPresident&CEOofTerraneMetals

DonaldMcInnes–Director•  Co-FounderofOxygenCapitalCorp.•  Execu/veViceChairman,AlterraPowerCorp.•  FormerDirectorofFronteerGold

SeanTetzlaff–Director•  Co-FounderofOxygenCapitalCorp.•  CFOofPureGoldMining•  FormerCFOofFronteerGold&AuroraEnergy

ManagementTeam

JohnWenger–CFO&CorporateSecretary•  FormerManager,Ernst&Young(Miningteam)MoiraSmith–VPExplora$on&Geoscience•  FormerChiefGeologist,NevadaforFronteerGold(LongCanyonProject)

•  FormerUSExplora/onManagerforTeckforseveralhigh-profile,advanced-stageprojects(Pogo,ElLimon,Petaquilla)

EvelynCox–DirectorCorporateCommunica$ons•  FormerVPCorporateCommunica/onsatAlderonIronOreandKing&BayWest(formerlyForbesWest)

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CAPITALSTRUCTURE

AnalystCoverage

JeffKilleen416.956.6218

TyronBreytenbach416.943.6747

MickCarew604.697.6006

MichaelGray604.639.6372

ShaneNagle416.869.7936

DanRollins416.842.9893

CapitalStructure(asatJan5,2017exceptwhereotherwisenoted)

SharesOutstanding 150.0million

Op/onsOutstanding 11.4million

WarrantsOutstanding 20.8million

FullyDilutedShares* 182.2million

CashonHand(asofSept30,2016)** ~C$18.7million

MarketCap(basedonTSXpriceofC$0.51) ~C$76.5million

KeyShareholders

NewmontMining 9.2%

TeckResources 5.3%

Management&Insiders 7.2%

*Includes396,984RSUs&408,000DSUs**IncludesrecentlycompletedboughtdealfinancingofC$14.4M

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REGIONAL-SCALEOXIDEGOLDSYSTEMS

•  Goldstrike(1988–1994produc/on)(1)⁻  209,000ozhistoricalproduc$onat1.2g/tAu⁻  22km2drilltargetarea⁻  Infill&step-outdrillingcommencedMarch2016(ongoing)

•  BlackPine(1991–1998produc/on)(2)⁻  435,000ozhistoricalproduc$onat0.7g/tAu⁻  12km2targetarea⁻  Datacompila/onunderway

•  Kinsley(1995–1999produc/on)(3)⁻  Maidengoldresourcees/mate:405,000ozgrading2.27g/tAuIndicated&122,000ozgrading1.13g/tAuInferred

⁻  138,000ozhistoricalproduc$onat1.4g/tAu⁻  10km2targetarea

•  BaxterSprings(nohistoricproduc/on)(2)⁻  Drillresultshighlight:33.5mgrading22g/tAu

(1)  FurtherinformaPononGoldstrikeisavailableinthetechnicalreportenPtled“TechnicalReportontheGoldstrikeProject,WashingtonCounty,Utah,U.S.A.”,effecPveApril1,2016anddatedOctober7,2016,preparedbyMichaelM.GusPn,Ph.D.,CPGandMoiraSmith,Ph.D.,P.Geo.underPilotGold’sissuerProfileonSEDAR(www.sedar.com).

(2)  HistoricdrillholeresultswerecompletedpriortotheimplementaPonofNaPonalInstrument43-101.AdiscussionandcauPonarylanguageregardinghistoricdatacanbefoundunder“CauPonaryNotesandTechnicalDisclosures”inthispresentaPon.

(3)  FurtherinformaPononKinsleyisavailableinthetechnicalreportenPtled"UpdatedTechnicalReportontheKinsleyProject,ElkoCounty,Nevada,U.S.A.",effecPveMarch1,2015anddatedMarch19,2015,preparedbyMichaelM.GusPn,Ph.D.,CPG,MoiraSmith,Ph.D.,P.Geo.andGaryL.Simmons,MMSAunderPilotGold'sIssuerProfileonSEDAR(www.sedar.com).

Goldstrike

BaxterSprings

BlackPine

Kinsley

DrumAntelope

Griffon

Anchor

Viper

SandyEaster

BrikStateline

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GOLDSTRIKE–Utah

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GOLDSTRIKEPASTPRODUCERWITHPROVENUPSIDE

•  PilotGoldacquired100%ofthedistrictscale,oxidegoldGoldstrikepropertyin2014throughitsacquisi/onofCadillacMining(1)forC$7.2million(allshareacquisi/on)

•  Pastproducer–openpit,heapleachopera$on(1988–1994)-  209,000ouncesgoldproducedatanaveragegradeof1.2g/tgold

-  Produc/onfrom12shallowpits-  Historicalrunofmineand2inchcrushblendwithgoldrecoveryof75%

-  Sitefullyreclaimed

•  1,519historicaldrillintercepts-  84%ofhistoricaldrillholescontaineddetectablegold

•  Mainstra/graphichostcontainsgoldmineraliza$oneverywherethatitisexposedonsurface

•  Goldmineraliza$oncon$nuesdowndipofhistoricpitsundershallowcover

•  Objec/veofthe2016drillprogramistoadvanceGoldstriketoaresourcees/mateinQ12017

HistoricMineTrend(14km2)

kilometres

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(1)  SeepressreleasedatedAugust29,2014forfurtherdetails

MainArea

LookingENE100metres

A

A’

A

Au(gpt)

A’

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GOLDSTRIKE2015&2016DRILLPROGRAM

•  Drillingon-going,targe/ngshallowoxidegoldmineraliza/onwithinthe14km2“HistoricMineTrend”

•  Scopeofprogramopen-ended–currentlytwodrillsonsite

•  Holestoaverage~150metresinlength

•  Drillhighlightsfrom2015&2016include(1):-  2.72g/tgoldover18.3minPGS012-  2.10g/tgoldover35.1minPGS019,including4.42g/tgoldover13.7m-  1.19g/tgoldover57.9minPGS026-  1.14g/tgoldover47.2minPGS027-  1.85g/tgoldover30.5minPGS041C,including2.63g/tgoldover18.3m-  1.06g/tgoldover47.2minPGS044C-  3.28g/tgoldover38.1minPGS048-  2.64g/tgoldover41.4minPGS051C,including3.22g/tgoldover32.0m-  2.24g/tgoldover58.8minPGS054C,including2.77g/tgoldover36.2m-  0.96g/tgoldover76.2minPGS058-  1.08g/tgoldover45.7minPGS097-  0.86g/tgoldover67.1minPGS104-  1.20g/tgoldover22.9minPGS117,including2.48g/tgoldover6.1m

(1) SeepressreleasesdatedJanuary14th,April12th,May10th,May24th,June17th,June27th,August31st,October6thandDec1st2016forfurtherdetails

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GOLDSTRIKEMAINAREADRILLING

B

B’

C

C’

A

A’

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PegLegGraben

GoldStrikeGraben MioceneTuff

EoceneClaronFormaPon

HassayampaFault

HamburgFault

ArsenicGulchFault

PaleozoicCarbonateRocks


MioceneTuff


PGS054C:2.24g/tAuover58.8m


LookingSoutheast

HighGradePodStarterPitPoten/al

GOLDSTRIKE2016MAINAREADRILLING–AGGIESECTION(A-A’)

A A’

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GoldstrikeGrabenDipSlopeTarget

MioceneTuff

HassayampaFault

Open EoceneClaronFormaPon


HamburgFault

UnminedIntercepts

PGS008:1.68g/tAuover22.9m


LookingSoutheast


Target

GOLDSTRIKEMAINAREADRILLING–CORESHACKSECTION(B-B’)

DipSlopeTargettobedrilltestedupto350mfromedgeofcurrentdrilling

B B’

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DipSlopeTarget



HassayampaFault

MioceneTuff


GoldstrikeGraben

OPEN




LookingSoutheast

HighGradePodStarterPitPoten/al

GOLDSTRIKEMAINAREADRILLING–OCTOPADSECTION

DipSlopeTargettobedrilltestedupto350mfromedgeofcurrentdrilling

C C’

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GOLDSTRIKENEAR-TERMFUTUREDRILLING

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•  Resultsofcyanidesolubleassayingforthetencoreholesshownbelow(1)-  Mostholescontainoxidegoldwithaveryhighpercentageofcyanidesolublegold–8outof10coreholesreturnedaverageof88.4%cyanidesolubility

•  FinalresultsareexpectedinQ12017-  Compositesformetallurgicaltes/ng,includingcolumntes/ng,comminu/ontestworkandboclerolltest,arebeingprepared

HoleID(Az,Dip)(degrees) From(m) To(m) Intercept

(m)Au(g/t)

FA AuCN AuCN% Comments

PGS041C(52,-60) 71.0 101.5 30.5 1.85 1.08 58.4% transi/onalPGS044C(275,-63) 66.4 113.7 47.2 1.06 0.96 90.5%

oxideand 119.3 135.0 15.7 0.47 0.40 85.4%

PGS046C(180,-55) 103.3 124.4 19.8 0.87 0.06 6.5% sulphideand 124.4 148.7 25.9 0.85 0.82 96.1% oxideand 173.1 177.7 4.6 0.25 0.25 100.0% oxidePGS051C(275,-82) 110.3 151.5 41.1 2.64 2.57 97.1% oxidePGS054C(60,-68) 81.7 140.5 58.8 2.24 2.11 94.4% oxidePGS056C(245,-58) 114.1 145.7 31.5 0.36 0.29 80.2% oxidePGS059CA(0,-90) 51.1 80.6 29.5 0.46 0.38 82.5% oxidePGS063C(220,-60) 104.2 115.8 11.6 0.36 0.27 75.7% oxide/transi/onalPGS067C(140,-60) 112.3 133.7 21.3 0.49 0.40 81.6%

oxideand 159.7 187.8 28.0 0.52 0.46 88.4%

PGS073C 95.8 138.5 42.7 0.50 0.15 30.0% transi/onal

(1) SeepressreleasedatedAugust4,2016forfurtherdetails.

GOLDSTRIKECYANIDESOLUBLEASSAYINGSUPPORTSLEACHABILITY

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BOTTOMLINEBuildingshareholdervaluewithprovenmanagement,technicalfocusandhigh-qualityprojects.

PROJECTS

•  Locatedinexcellentminingjurisdic/onswithdistrictwidepoten/al

•  FocusedonCarlin-stylegoldadvancedexplora/onprojectsintheU.S.(mainlyGoldstrike)

•  Assessingstrategicop/onsforTurkishassetporrolio

UPCOMINGCATALYSTS

•  Closingofboughtdealfinancing(Nov2016)•  DrillresultsfromGoldstrike(ongoing)

•  2drillsopera/ngatGoldstrikewith11monthcon/nuousprogram(Feb2017)•  FinalmetallurgicalresultsfromGoldstrike(Q12017)

•  PlanofOpera/onforGoldstrike–willallowforaddi/onaldrills(Q12017)•  Compila/onresultsofhistoricaldatafromBlackPine(Q12017)

•  ResourceEs/matefromGoldstrike(Q22017)

CorporateInquiries604.632.4677

[email protected]

PLG:TSX

1900–1055WestHas/ngsStreet

Vancouver,BCV6E2E9www.pilotgold.com