Borealis Mining Company (BOGO) Investor presentation summary

Operating profile

• Restarted mining at Borealis in February 2026; actively mining East Ridge, Deep Ore Flats and Borealis pits, with gold and silver dore production.

• Mine is fully permitted and built, with operating ADR facilities, mobile equipment and heap-leach infrastructure; a minor permit modification for larger pits and flexibility was approved in October 2025.

• Heap-leach recovery expected at ~70%; ADR capacity is ~55,000–60,000 oz/year without upgrades, with external-carbon processing also available.

• Historical mine production totals ~625,000 oz at 1.77 g/t Au; historical resource estimates include 1.831M oz indicated and 195,000 oz inferred, and are not current NI 43-101 resources.

Sandman development

• 2026 PEA outlines 9-year mine life, 35,000–40,000 oz/year production, 2.2 Mtpa throughput and post-tax AISC of $1,823/oz.

• At $2,600/oz gold, PEA estimates post-tax NPV at 6% of $203.1M, 104.9% IRR, 1.1-year payback and $36.2M pre-production capex.

• At $3,250/oz gold, PEA estimates NPV at 6% of $367.5M and IRR of 168.2%; Sandman’s PEA is preliminary and resources are not reserves.

• Sandman has 433,000 oz indicated and 60,800 oz inferred resources; a 5,000m drill program is underway, including ~1,660m of metallurgical and geotechnical drilling.

• Development plan leverages the Borealis ADR facility ~220 miles away to process loaded carbon, reducing Sandman’s planned onsite infrastructure needs.

Exploration and portfolio

• Borealis exploration targets include high-sulfidation gold mineralization, property-wide geochemical and geophysical anomalies, and a planned 2027 drilling campaign on the project’s eastern side.

• Historical Borealis drill highlights include 67.1m at 16.2 g/t Au and 115.8m at 4.5 g/t Au; results are exploration targets, not current resources.

• Big Balds, near the Carlin and Bida trends, is newly permitted for drilling, with a program planned for 2026/2027; targets include Carlin-type, skarn/porphyry and intrusive-related gold.

• Portfolio strategy pairs Borealis production and exploration with Sandman development, Big Balds exploration optionality and active evaluation of M&A opportunities.