investor presentation january 2015

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JANUARY 2015 Investor Presentation

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JANUARY 2015

Investor Presentation

Forward Looking Information

2

This presentation contains forward-looking information under Canadian securities legislation. Forward-looking information includes, but is not limited to, statements with respect to the development potential and timetable of the projects; the Company’s ability to raise additional funds as necessary or on commercially reasonable terms; the future price of gold; the estimation of mineral resources and mineral reserves; conclusions of economic evaluation (including scoping studies); the realization of mineral resource and reserve estimates; the timing and amount of estimated future production, development and exploration; costs of future activities; capital and operating expenditures; success of exploration activities; mining or processing issues; currency exchange rates; government regulation of mining operations; and environmental risks. Generally, forward-looking information can be identified by the use of forward-looking terminology such as “plans,” “expects” or “does not expect,” “is expected,” “budget,” “scheduled,” “estimates,” “forecasts,” “intends,” “anticipates” or “does not anticipate,” 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”. Forward-looking information is based on the opinions and estimates of management as of the date such statements are made. Estimates regarding the anticipated timing, amount and cost of mining at the projects are based on assumptions underlying mineral resource estimates and the realization of such estimates; results of previous mining activities at the projects, and detailed research and analysis completed by independent of the Company; research and estimates regarding the timing of delivery for long-lead items; knowledge regarding the factors involved in building a mine and other factors described in the technical reports and Annual Information Form filed under the profile of the Company on SEDAR. Capital and operating cost estimates are based on results of previous mining activities, research of the Company and independent consultants, recent estimates of construction and mining costs and other factors that are set out in the scoping study. Production estimates are based on mine plans and production schedules, which have been developed by the Company’s personnel and independent consultants. Forward-looking information is subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of the Company to be materially different from those expressed or implied by such forward-looking information, including but not limited to risks related to: timing and availability of external financing on acceptable terms; unexpected events and delays during construction, expansion and start-up; variations in ore grade and recovery rates; receipt and revocation of government approvals; actual results of exploration and mining activities; changes in project parameters as plans continue to be refined; future prices of gold; failure of plant, equipment or processes to operate as anticipated; accidents, labour disputes and other risks of the mining industry. Although management of the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such 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 information. The Company does not undertake to update any forward-looking information except in accordance with applicable securities laws.

Investors are advised that National Instrument NI 43-101 of the Canadian Securities Administrators requires that each category of mineral reserves and mineral resources be reported separately. Mineral resources that are not mineral reserves do not have demonstrated economic viability. Due to the uncertainty of measured, indicated or inferred mineral resources, these mineral resources may never be upgraded to proven and probable mineral reserves.

Mark Edwards MAIG MAusIMM (CP)., is a “qualified person” as such term is defined in National Instrument 43-101 and has reviewed and approved the technical information and data included in this presentation.

Cautionary Note to U.S. Investors Concerning Estimates of Measured, Indicated or Inferred Resources The information presented uses the terms “measured”, “indicated” and “inferred” mineral resources. United States investors are advised that while such terms are recognized and required by Canadian regulations, the United States Securities and Exchange Commission does not recognize these terms. “Inferred mineral resources” have a great amount of uncertainty as to their existence, and as to their economic and legal feasibility. It cannot be assumed that all or any part of an inferred mineral resource will ever be upgraded to a higher category. Under Canadian rules, estimates of inferred mineral resources may not form the basis of feasibility or other economic studies. United States investors are cautioned not to assume that all or any part of measured or indicated mineral resources will ever be converted into mineral reserves. United States investors are also cautioned not to assume that all or any part of an inferred mineral resource exists, or is economically or legally mineable.

Non-IFRS and Additional Information

3

Non-IFRS Measures

Crocodile Gold believes that investors use certain indicators to assess gold mining companies. The indicators are intended to provide additional information and should not be

considered in isolation or as a substitute for measures of performance in accordance with the International Financial Reporting Standards.

“Operational Cash Costs per Ounce” is a non-IFRS performance measure which could provide an indication of the mining and processing efficiency at the operations.

The Company calculates operating cash costs per ounce by deducting silver sales revenue as a by-product from operating expenses per the consolidated statement of

operations, then dividing by the gold ounces sold during the applicable period. Operating expenses include mine site operating costs such as mining, processing and

administration as well as royalties, however excludes depletion and depreciation, share-based payments and rehabilitation costs. There are variations in the method of

computation of “operational cash costs per ounce” as determined by the Company compared with other mining companies. For more detail on the operational cash costs per

ounce determination for Crocodile Gold, please visit www.sedar.com or www.crocgold.com and review the latest Annual Financial Statements issued on March 19, 2014.

“All-In Sustaining Costs per Ounce of Gold (“AISC”)” Effective December 31, 2013, the Company has adopted an all-in sustaining cost (“AISC”) performance measure

that reflects all of the expenditures that are required to produce an ounce of gold from current operations. While there is no standardized meaning of the measure across the

industry, the Company’s definition conforms to the AISC definition as set out by the World Gold Council in its guidance dated June 27, 2013. The World Gold Council is a non-

regulatory, non-profit organization established in 1987 whose members include global senior mining companies. The Company believes that this measure will be useful to

external users in assessing operating performance and the ability to generate free cash flow from current operations. The Company defines AISC as the sum of operating

cash costs (per above), sustaining capital (capital required to maintain current operations at existing levels), capital lease repayments, corporate general and administrative

expenses, in-mine exploration expenses and rehabilitation accretion and amortization related to current operations. AISC excludes capital expenditures for significant

improvements at existing operations deemed to be expansionary in nature, exploration and evaluation related to growth projects, rehabilitation accretion and amortization not

related to current operations, financing costs, debt repayments, share-based compensation not related to operations, and taxes.

Additional Information

Notes for Page 15 and 16: For information regarding mineral resource and reserve estimates, including parameters used to generate the estimates and depletion, please see

the technical reports titled: NI43-101 TECHNICAL REPORT FOSTERVILLE GOLD MINE, VICTORIA, AUSTRALIA PREPARED FOR CROCODILE GOLD CORP dated May

27, 2014 and; NI43-101 TECHNICAL REPORT – BIG HILL ENHANCED DEVELOPMENT PROJECT AT STAWELL GOLD MINE MINERAL RESOURCES & RESERVES

PREPARED FOR CROCODILE GOLD CORP dated June 6, 2014. For the Northern Territory Mineral Reserve Estimates please refer to the technical reports titled: REPORT

ON THE MINERAL RESOURCES & MINERAL RESERVES OF THE COSMO DEEPS GOLD PROJECT dated May 27, 2014;

REPORT ON THE MINERAL RESOURCES & MINERAL RESERVES OF THE UNION REEFS GOLD PROJECT dated December 31, 2012; REPORT ON THE MINERAL

RESOURCES & MINERAL RESERVES OF THE PINE CREEK GOLD PROJECT dated December 31, 2012; REPORT ON THE MINERAL RESOURCES & MINERAL

RESERVES OF THE MAUD CREEK GOLD PROJECT dated December 31, 2012 and;

REPORT ON THE MINERAL RESOURCES & MINERAL RESERVES OF THE BURNSIDE GOLD AND BASE METAL PROJECT dated December 12, 2013.

Mineral resources that are not mineral reserves do not have demonstrated economic viability.

Notes for Page 17: For information regarding mineral resource and reserve estimates, including parameters used to generate the estimates and depletion, please see the

technical reports titled: NI43-101 TECHNICAL REPORT AND RESOURCE UPDATE 2011, ON THE SILVERTIP PROPERTY, NORTHERN BRITISH COLUMBIA, CANADA

FOR SILVERCORP METALS INC. dated June 15, 2011.

4

• THREE PRODUCING MINES IN AUSTRALIA ‒ Fosterville, Cosmo (Union Reefs Mill), Stawell

• MID-TIER GOLD PRODUCER

‒ Record Production of 222,312 oz in 2014

• SUSTAINABLE PRODUCTION ‒ 2015E Production 205,000 – 220,000 oz

• DECREASING COSTS* ‒ 2015E Operating Cash Costs guidance

US$780 – $860/oz ‒ 2015E All-In Sustaining Cash Costs (“AISC”)(1)

guidance US$1,020 – $1,100/oz

• POSITIVE CASH FLOW GENERATION

• GROWTH FROM PROJECTS

• EXPERIENCED OPERATIONAL MANAGEMENT TEAM

Company Snapshot

Low Risk

Jurisdictions

• Proven & Probable Reserves: 0.9 million oz • M&I Mineral Resources: 4.8 million oz (incl. of 2P) • Inferred Mineral Resources: 2.5 million oz

*See Non-IFRS Disclosures page 3 of this presentation. (1) All-In Sustaining Cash Costs per Ounce (“AISC”) includes Corporate General and Administrative Expenses.

• Record production in 2014 of 222,312 oz, up 5.5% from 2013

• Achieved second consecutive year of production above 200,000 oz

Historical Growth and Sustainable Production

41% 4-Year

Production CAGR

5 * Crocodile Gold acquired the Fosterville and Stawell Gold Mines with effect from May 5, 2012. Information presented prior to this date is for comparative purposes only.

• Consistent decrease in Annual Operational cash costs and AISC(1)

• On target to achieve Operational cash cost guidance of $900 - $950/oz in 2014

• Further cost reductions expected in 2015 due to continuous cost management and operational efficiencies

Decreasing Costs and Driving Efficiency

On target to achieve 2014

Operational cash cost guidance of $900 - $950/oz

6 *See Non-IFRS Disclosures page 3 of this presentation. (1) All-In Sustaining Cash Costs per Ounce (“AISC”) includes Corporate General and Administrative Expenses.

• Focused on maintaining predictable and sustainable levels of production

• Delivering cost efficiencies to drive down operating costs throughout our business

• 2015 Operational Cash Costs per oz are expected to decrease to $780 - $860, from 2014 guidance of $900 - $950 per oz

2015 Production and Cash Cost Guidance

(US) $ Fosterville Cosmo Stawell Consolidated 2015

Gold Production (oz) 100,000 – 105,000 75,000 – 85,000 ~30,000 205,000 – 220,000

Operational Cash Costs per ounce*

$670 - $750 $850 - $930 $945 - $1,025 $780 - $860

AISC per ounce*(1) $1,020 - $1,100

*See Non-IFRS Disclosures page 3 of this presentation. (1) All-In Sustaining Cash Costs per Ounce (“AISC”) includes Corporate General and Administrative Expenses.

7

Generating Positive Operational Cash Flow

8

• Generating positive operational cash flow despite decrease in gold prices

• Average realized gold price of US$1,292 per ounce in 9M/14 decreased 11.3% from $1,456 per oz in 9M/13

• Operational cash flow of $18.2 million in Q3/14

• 4.1% improvement in operational cash flow to $48.9 million in 9M/14 from $46.9 million in 9M/13

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• On January 14, 2015, Crocodile Gold closed its Agreement with AuRico Gold Inc. (“AuRico”) to terminate a cash flow sharing arrangement previously established between the two companies when Crocodile Gold acquired the Fosterville and Stawell Gold Mines from AuRico in 2012.

• As part of the Agreement, Crocodile Gold has paid AuRico C$20.0M (US$16.7M) in cash and has granted AuRico a net smelter return royalty of 2% from the Fosterville Gold Mine, effective as of January 14, 2015, and a 1% royalty from the Stawell Gold Mines commencing January 1, 2016.

• Strong Q4/14 performance resulted in a solid cash balance at year-end that enabled Crocodile Gold to fund the one-time payment without the addition of debt.

• As a result, Crocodile Gold is released from its obligation to pay AuRico any further net free cash flow generated from its Fosterville and Stawell Gold Mines.

• Crocodile Gold will now fully benefit and retain 100% of its strong free cash flows. This Agreement was a critical step in supporting the future growth toward the 5 Year Strategy of Crocodile Gold.

Free Cash Flow Agreement Completed

9

Cash and Debt Positions

Preliminary Unaudited Cash Position and Working Capital as at December 31, 2014

• Cash Position: US$37.0M cash and gold bullion

• Working Capital: US$12.5M

Debt—Convertible Debenture

• Fulfilled debt position requirements in cash prior to due date.

• Successfully completed a private placement Q1/14 to raise money and pay out a credit facility with Credit Suisse.

• Convertible debenture of C$34.5M due April 30, 2018, with an 8% coupon and C$0.25 conversion price. Under the agreement, interest payments may be settled in cash or in shares. A total of three interest payments have been made to date on the debenture, all on time, all settled in cash.

• Total Debt to LTM EBITDA was 0.6x as at September 30, 2014.

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Fosterville Gold Mine Gold Production

Fosterville Processing Facility

2015 GOALS

• Increase underground productivity

• Continue to expand Mineral Reserve and Mineral Resource estimates

• 2015 Production guidance: 100,000 – 105,000 oz

• 2015 Operational Cash Costs: US$670 – $750 per oz*

2014 HIGHLIGHTS

• RECORD ANNUAL GOLD PRODUCTION UP 7% TO 105,342 OZ

• 2% IMPROVEMENT IN GRADE TO 4.62 G/T AU

• INCREASED TOTAL ANNUAL MILLED TONNES 2.9% TO 814,837 TONNES

• IMPROVED BLENDING PRACTICES OF CARBONACEOUS ORE AND ONGOING OPTIMIZATION OF THE LEACHING CIRCUIT

23,556 23,470 25,359 26,039 25,786

22,198

28,313 29,045

0

5,000

10,000

15,000

20,000

25,000

30,000

35,000

Q1/13 Q2/13 Q3/13 Q4/13 Q1/14 Q2/14 Q3/14 Q4/14

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*See Non-IFRS Disclosures page 2.

Cosmo Gold Mine Gold Production

2015 GOALS

• Continue cost reduction activities

• Further improve mill recovery levels

• Expand Mineral Resource estimate through underground drill programs

• 2015 Production guidance: 75,000 – 85,000 oz

• 2015 Operational Cash Costs: US$850 – $930 per oz*

2014 HIGHLIGHTS

• RECORD ANNUAL GOLD PRODUCTION UP 4.9% TO 77,740 OZ

• INCREASED TOTAL ANNUAL MILLED TONNES 20.7% TO 868,399 TONNES

• UNDERGROUND ORE PRODUCTION UP 8.8% TO 793,156 TONNES

• SUCCESSFUL TRANSITION TO NEW MINING CONTRACTOR RESULTED IN RECORD MONTHLY AND QUARTERLY STOPING TONNES

13,169

17,706

21,316 21,915

17,841

21,845

17,942

20,112

0

5,000

10,000

15,000

20,000

25,000

Q1/13 Q2/13 Q3/13 Q4/13 Q1/14 Q2/14 Q3/14 Q4/14

Cosmo Access Portal

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*See Non-IFRS Disclosures page 2.

Stawell Gold Mines Gold Production

Fosterville Processing Facility

2015 GOALS

• Big Hill Project plan modification and engagement with local community

• Continue to operate in a sustainable way, further streamline operations, and continue cost reduction

• 2015 Production guidance: ~30,000 oz

• 2015 Operational Cash Costs: US$945 – $1,025 per oz*

2014 HIGHLIGHTS

• ACHIEVED FULL YEAR RESULTS AS IT CONTINUES TO FOCUS ON UPPER MINE LEVELS

• STRONG ANNUAL GOLD PRODUCTION OF 39,230 OZ, A 2.8% INCREASE VS. 2013

• UNDERGROUND ORE PRODUCTION OF 560,815 TONNES AT 2.58 G/T AU

• ACHIEVED OPERATIONAL SUSTAINABILITY ON STREAMLINED OPERATING ACTIVITIES; REDUCED MANPOWER AND INFRASTRUCTURE

12,228

7,085

8,531

10,322 9,956 9,981 9,654 9,639

0

5,000

10,000

15,000

Q1/13 Q2/13 Q3/13 Q4/13 Q1/14 Q2/14 Q3/14 Q4/14

Stawell Processing Facility

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*See Non-IFRS Disclosures page 2.

South

Gandy’s

Growth Projects

The Crocodile Gold Management Committee (“CGMC”) reviews available growth projects quarterly to establish priorities, approve expenditures and to review performance.

D lode

B lode

A lode

C lode

Good pipeline of projects, several

which have been approved by CGMC

to date including:

‒ Big Hill Development Project

‒ Maud Creek

‒ Regional exploration mapping at Esmeralda

‒ Cosmo Structural mapping

‒ Underground exploration drilling at Fosterville, Cosmo and Stawell

‒ Surface exploration drilling at Stawell

Mapping Completed at Esmeralda

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Mineral Resources*

Tonnes Au Grade Au (MM) (g/t) (Koz)

Measured and Indicated Resources (incl. of Reserves) Cosmo 4.5 3.6 500 Fosterville 16.6 3.9 2,069 Pine Creek 8.4 1.4 380 Stawell 4.7 2.6 399 Burnside 7.6 1.4 336 Union Reefs 3.0 2.4 236 Maud Creek 7.7 3.5 871 M&I Resources 52.5 2.83 4,791

Inferred Resources Cosmo 1.2 2.9 109 Fosterville 6.3 3.8 777 Pine Creek 2.5 2.3 191 Stawell 1.0 4.7 145 Burnside 11.8 1.6 602 Union Reefs 4.3 2.2 305 Maud Creek 4.2 2.5 344 Inferred Resources 31.3 2.45 2,473

*Please refer to cautionary language on page 2-3 of this presentation.

Crocodile Gold maintains significant Measured and Indicated Resources* of 4.8 million ounces and Inferred Resources of 2.5 million ounces.

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Mineral Reserves*

Tonnes Au Grade Au (MM) (g/t) (Koz)

Proven & Probable Reserves Cosmo 1.5 3.8 180 Fosterville 1.8 6.0 342 Pine Creek 1.3 1.6 62 Stawell 1.0 3.4 107 Burnside 0.2 1.9 10 Union Reefs 0.3 4.4 42 Maud Creek 1.0 5.4 185 Reserves 7.1 4.1 928

*Please refer to cautionary language on page 2-3 of this presentation.

Reserves* for Crocodile Gold’s projects total approximately 0.9 million ounces.

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Strategic Projects

Crocodile Gold continues to look for opportunities to invest in attractive projects in low-risk jurisdictions.

Significant land holdings in the Northern Territory and also in the State of Victoria

• 2,061km2 in Northern Territory and 2,154km2 in Victoria.

JDS Silver: Silvertip Project, Northern British Columbia

• In early 2014, the company identified JDS Silver as a strategic opportunity given our extensive knowledge of the project. The company completed its due diligence process and in Q3/14 invested $5.1M for a 19.9% minority interest.

• The Silvertip project is a highly attractive near-production, high grade silver and polymetallic resource in a stable mining jurisdiction in North America. Indicated Resources are 2.7Mt @ 341g/t Ag, 6.53% Pb and 9.12% Zn.*

• Capital requirements are low ‒ the mine includes a developed access decline, full camp facilities, and an access road. JDS Silver also

owns a full processing plant with power generating capabilities that is in excellent condition.

• JDS Silver underscores our core mining principals as we are highly familiar with the project’s site location and geological setting.

*Please refer to cautionary language on page 2-3 of this presentation.

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Non-Core Asset Divestment

Crocodile Gold is open to entering into Joint Ventures (JVs) of non-core assets primarily in the Northern Territory and discussions are ongoing. Potential benefits include: • Return upside in the form of earn-in rights, royalties and other similar arrangements

• Carrying cost savings

• Sharper focus on core producing assets

Crocodile Gold looks for opportunities to divest non-core assets and has completed a number of divestments in 2014 which include:

Phoenix Copper Option and Sale Agreement

• Crocodile Gold entered into a sale agreement with Phoenix Copper (“Phoenix”) for 100% of the Company’s Iron Blow and Mt. Bonnie massive sulphide deposits for a 2% royalty on precious metals and claw back rights.

• The Company also entered into an option agreement which allows Phoenix to earn up to a 90% interest in the nearby Burnside and Moline gold projects and the Chessman base metals project. Terms of the agreement include Pheonix’s commitment to spend AUD$4M in exploration expenditures over the next four years.

Rockland Option Agreement

• Crocodile Gold entered into a uranium exploration agreement with Rockland Resources, where Rockland received 100% uranium interest on the Company’s property for a AUD$1M exploration commitment over four years. A 1.0% net smelter royalty is capped at AUD$2.5M.

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A Unified Management Committee is the Key to Delivering Successful Results.

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Management Committee

• Rodney D. Lamond, P. Eng., President & Chief Executive Officer, Director Mr. Lamond joined Crocodile Gold as President and Chief Executive Officer of Crocodile Gold in July 2013. Mr. Lamond is a Professional Mining Engineer with over 25 years of operational experience in the mining industry.

• Robert Dufour, CPA, CA, Chief Financial Officer

Mr. Dufour was appointed Chief Financial Officer in October 2012. Mr. Dufour is a Chartered Accountant with over 10 years of finance and accounting experience.

• Troy Cole, General Manager, Stawell Gold Mines Mr. Cole joined Crocodile Gold Corporation in 2012 through the acquisition of the Stawell Gold Mines from AuRico. Mr. Cole has been Stawell Gold Mines General Manager since 2007 and has had the responsibilities of director, mine management and engineering during his tenure.

• Ian Holland, General Manager, Fosterville Gold Mine Mr. Holland joined Crocodile Gold through the acquisition of the Fosterville Gold Mine in 2012 and has been in the role of General Manager since 2007. Ian has over 17 years experience across a number of gold and base metal mining operations throughout Australia. He is a geologist by background and has a strong track record in metalliferous operations.

• Jason Morin, General Manager, NT Operations Mr. Morin joined Crocodile Gold in September 2013. He was most recently the General Manager of the Langlois Mine in Quebec for Nyrstar where he successfully guided the site from care and maintenance to full plant capacity in 6 months.

• Mark Edwards, General Manager, Exploration and Business Development Mr. Edwards has been part of the Crocodile Gold Northern Territory Project since March 2010. Mr. Edwards is a qualified geologist with approximately 16 years experience working on Gold and Industrial Mineral deposits in the Northern Territory, Queensland, Western Australia, Tasmania and Botswana.

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APPENDIX

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2014 Operational Summary

Q1 2014 Q2 2014 Q3 2014 Q4 2014 FY 2014

Fosterville Gold Mine

Ore Milled (tonnes) 220,379 202,927 200,708 190,823 814,837

Grade (g/t Au) 4.32 3.95 5.02 5.26 4.62

Recovery (%) 84.3 85.7 86.8 88.5 86.4

Gold Production (oz) 25,786 22,198 28,313 29,045 105,342

Cosmo Gold Mine

Ore Milled (tonnes) 230,815 213,815 198,168 225,601 868,399

Grade (g/t Au) 2.79 3.69 3.03 3.05 3.14

Recovery (%) 85.9 86.3 92.8 90.9 88.9

Gold Production (oz) 17,841 21,845 17,942 20,112 77,740

Stawell Gold Mines

Ore Milled (tonnes) 227,627 234,363 232,840 232,157 926,987

Grade (g/t Au) 1.71 1.69 1.62 1.67 1.67

Recovery (%) 79.4 78.8 79.5 77.6 78.8

Gold Production (oz) 9,956 9,981 9,654 9,639 39,230

Total Production (oz) 53,583 54,024 55,909 58,796 222,312

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Financial Results Q3 2014 Q3 2013 YTD 2014 YTD 2013

Revenue ($) 73,336,486 78,201,622 212,955,851 227,547,959

Cost of operations, including depletion and depreciation ($)

(60,753,680) (69,616,330) (184,947,003) (225,607,737)

Mine operating income ($) 12,582,806 8,585,292 28,008,848 1,940,222

Net income (loss) ($) 8,583,897 3,319,678 9,192,491 (69,461,540)

Net income (loss) per share ($/share) 0.02 0.01 0.02 (0.17)

Cash generated from operating activities ($) 18,232,015 18,341,774 48,875,922 46,930,176

Investment in mine development, property, plant and equipment ($)

17,644,265 17,777,671 51,455,322 57,711,990

Gold ounces produced 55,909 55,206 163,516 152,318

Gold ounces sold 56,486 58,890 164,833 155,221

Average realized gold price ($) 1,298 1,325 1,292 1,456

Average quoted gold price ($) 1,282 1,328 1,288 1,457

Operating cash costs per ounce sold ($)* 898 925 944 1,051

All-in sustaining cash costs per ounce ($)* 1,233 1,252 1,285 1,434

Q3 2014 Financial Highlights

*Refer to non-IFRS measures on page 3

23

Share Structure & Financial Details

Basic: 475.8 Million

Warrants: 63.9 Million

Options: 022.7 Million

Fully Diluted: 700.4 Million*

Market Capitalization: (As of Jan 15, 2015)

$104.7 Million

52 Week Trading Range $0.13 – $0.35

Major Shareholder Luxor remains very supportive of management and involved with the oversight of the Company with two active members on the Board of Directors.

*Fully diluted shares outstanding includes the full

conversion of the convertible debentures for

138,000,000 shares

Laura Lepore Director, Investor Relations e: [email protected] t: 416-847-1848