North Peak Resources : NPR February 2022 - Corporate Presentation

Black Horse Property Option Agreement: Meets North Peak's Criteria for Low-Cost, High Grade, Near Term Gold Production

February 2022

Forward Looking Statement

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This Presentation contains certain forward-looking statements or "forward-looking information" within the meaning of applicable securities laws that are based on expectations, estimates, intentions, plans, beliefs and projections of the Company as at the date of the Presentation. Forward-looking statements consist of statements that are not purely historical, including any statements regarding beliefs, plans, expectations or intentions regarding the future. Such information can generally be identified by the use of forwarding-looking wording such as "may", "expect", "estimate", "anticipate", "intend", "believe" and "continue" or the negative thereof or similar variations. The information in this Presentation about the future plans or objectives of the Company are forward-looking information. Other forward-looking information includes, but is not limited to, information concerning the intentions, plans and future actions of the Company. Readers are cautioned not to place undue reliance on forward-looking statements, as there can be no assurance that the plans, intentions or expectations upon which they are based will occur. By their nature, forward-looking statements involve numerous assumptions, known and unknown risks and uncertainties, both general and specific, that contribute to the possibility that the predictions, estimates, forecasts, projections and other forward-looking statements will not occur. These assumptions, risks and uncertainties include, but are not limited to, failure to establish resources and reserves, capital and operating costs varying significantly from estimates, delays in obtaining or failures to obtain required governmental, environmental or other project approvals, inflation, changes in exchange rates, fluctuations in commodity prices, the impact of the new coronavirus (COVID-19) on the Company's operations and global economic conditions, delays in the development of projects and other factors, as well as those risk factors discussed or referred to in NPR's Management's Discussion and Analysis for the period ended September 30, 2020 and the Management Information Circular of the Company dated May 13, 2020, available at www.sedar.com. Forward-looking statements or information contained in this Presentation are expressly qualified by this cautionary statement.

This Presentation does not constitute or form part of any invitation, offer for sale or subscription or any solicitation for any offer to purchase or subscribe for any securities of the Company nor shall they or any part of them form the basis of or be relied upon in connection therewith or act as any inducement to enter into any contract or commitment with respect to such securities. The information contained herein was not prepared in connection with an offering of securities and in no way constitutes an offering memorandum for the purposes of applicable securities law. Further, this Presentation is for informational purposes only and must not be used or relied upon for the purpose of making any investment decision or engaging in any investment activity.

Neither NPR, nor any of their directors, officers, employees, agents or advisors make any representation or warranty in respect of the contents of this Presentation or otherwise in relation to NPR or their respective businesses. In particular, no representation or warranty, express or implied, is made as to the fairness, accuracy or completeness of the information or opinions contained herein, which have not been independently verified. No person shall have any right of action (except in case of fraud) against NPR or any other person in relation to the accuracy or completeness of the information contained in this Presentation. The information contained in this Presentation is provided as at the date hereof and is subject to amendment, revision and updating in any way without notice or liability to any party. The Company undertakes no obligation to update publicly or otherwise revise any forward-looking information whether as a result of new information, future events or other such factors which affect this information, except as required by law.

Certain information contained herein has been prepared by third-party sources. The information provided herein has not been independently audited or verified, by NPR. NPR has used its reasonable best efforts to ensure the accuracy and completeness of the information presented.

Mr. Mike Sutton, P.Geo., a director of the Company, is the Qualified Person (as defined by NI 43-101) who reviewed and approved the scientific and technical information in this document. The Qualified Person has not reviewed the mineral tenure, nor independently verified the legal status and ownership of the Black Horse Project or any underlying property agreements.

2

North Peak Strategy and Acquisition Criteria

• Since 2020 North Peak reviewed + 60 properties seeking low cost gold production in politically safe jurisdictions and the former 3 mine producing Black Horse property attracted North Peak
• • Similar strategy in the founding of Kirkland Lake Gold (Ontario, Canada) and Rupert Resources (Finland, Central Lapland Gold belt)
• Target properties with favorable exploration and/or production histories as Black Horse property does - of low operating cost, long life mining life either open pit or underground
• • Such history can reduce risks and challenges in permitting, reserve development, processing
• The "ideal project" has costs below $1,000 an ounce for its first ten years of production, this is based on acquire, build and operate economics. For example, plan for 750,000 ounces in the first ten years at an open-pit mine
• • Property acquisition $50 mln - $66 per ounce
  • Mine build and Capex $75 million - $100 per ounce
  • Operating Cost per ounce with Sustaining Capital $600-700 per ounce

3

Black Horse, San Pedro Mines Previous High Grade Gold Production Attracted Minex to Drill 316 Holes

• Option Agreement to acquire Black Horse property was with Gary Grauberger an experienced Nevada geologist who drilled 316 holes in 1998 and carried out met. Tests and pre-production surveys
• Historical mineral resources estimates of oxide gold range from 350,000 troy ounces (1.2g) established at surface over a 2 mile trend
• Proposed drilling program for 2022 to utilize modern exploration technology , substantiate historical resource and probe resource expansion at depth into sulfides
• Early capex for 5,000 tpd operation permits potential to establish a low cost production with all in costs being below US$1,000 per oz

Area	2,733 acres
Minerals	Gold & Silver
Deposit Type	Ore bodies in 2 quartz-calcite veins
	along bedding faults
Historic Inferred Resource	350,000 oz of gold (historic resource)
Historic Drilling	316 drill holes

• EA Qualified Person has not done sufficient work for the Company to classify these historical estimates as a current mineral resource or mineral reserve. The Company is not treating these historical estimates as current mineral resources or mineral reserves and has not verified the historical resource estimates. See Slide 15 for additional information

Black Horse District - Nevada

• Nevada is rated by the Fraser Institute as the World's #1 mining district
• Black Horse was an historical district with over 400 people living there in 1906
• "Ore worth over $100,000 per ton was recovered!" * - in 1907, when gold was around US$19 per oz.
• During Black Horse's boom in 1906-1913, the mines produced nearly US$1m *
• Drilling and activity was limited by equipment available in 1913

26th September 1906

4th December 1906

5 * https://www.nvexpeditions.com/whitepine/blackhorse.php - The information herein has not been independently audited or verified by NPR.