Great Pacific Gold

Morning, everyone. Thank you for coming out. As you stated, my name’s Alex Heath. I’m the CEO of Great Pacific. We have a portfolio of gold and copper projects throughout Papua New Guinea, and I will walk through how we’re advancing those, including our flagship Wild Dog project. Before we begin, I just wanna make sure that you know that I will be making some forward-looking statements. As you know, exploration’s a risky business, so before you do any investing, make sure you do your due diligence. Thank you.

Quickly look at our capital structure first. Point out that we are well-funded. We just raised $20 million in April of this year, and we still have $22 million as of June 30th. We also have 3 million shares of company ticker AUX worth about half a million dollars. 195 million shares outstanding, 261 fully diluted. We have approximately 36% of our shareholders as institutionals, Equinox Partner being our largest. We also have some retail investors making up about 60%, including one who owns almost 15% as well. So strong backing by institutions and strong retail.

So why GPAC now? So we are advancing a portfolio of projects, but we’ve really focused in on our Wild Dog project, which is on the island of East New Britain. This is a past producing operation, small operation, so we’re not trying to prove that there is gold. We already know that there’s gold on the surface and a long strike. What we’re trying to do is show the scale of it. So it’s an epithermal vein system, but to date has not been tested fully, and that’s what we’re trying to do across the 15 kilometers of strike length.

We’ve got a great team, headed by Greg McConnon, our executive chairman. He’s built three mines in the past. Our VP of exploration, Callum Spink, has years of experience, over eight years working entirely in Papua New Guinea. He’s worked at Lihir, he’s worked at Porgera. He’s got great connections. He understands how to operate in this jurisdiction. And we’re entirely focused on Papua New Guinea. We previously had a portfolio of projects throughout Australia as well, but in the last year, we’ve divested of those, and we’re now fully engaged on Papua New Guinea.

So plan here is to execute our drill program. I’ll walk through that shortly, but just wanna first point out what’s so great about Papua New Guinea. As you can see, this is a world-class geological environment. You’ve got mines such as Lihir, 30-plus million ounces, Ok Tedi over in the west, again, huge deposits, K92 showing that you can find very high grades and produce very profitably. What’s also great about Papua New Guinea is we have some of the world’s largest mining companies there, and the personnel that we’re hiring are highly trained. They’ve worked at tier one companies. They understand processes, they’re well-trained, and they understand safety.

In addition to this, what I think is really important for a company like ours, which is much smaller in a fairly remote jurisdiction, is that access to parts, equipment, is not a problem. There’s lots of available drills and spare parts within the country, so we haven’t had any major issues there.

So zooming in on the island of East New Britain, this is our Wild Dog project. It consists of two main claim blocks. In the center there, where you’ve got our logo, that’s the main Wild Dog trend. It’s a traced out vein across 15 kilometers. What I think is underappreciated about where we are, even though we are fairly remote, is the infrastructure here is fantastic. You’ve got the Tokua Airport. It’s about a three-hour flight from Port Moresby, paved road that goes right to site, 50 kilometers. We’ve got a deep sea port at Rabaul, and amazingly enough, 20 kilometers from site, we’ve got a hydro power station. So if you were thinking of building a mine, this is exactly what you’d wanna see. It just lowers the bar, lowers the threshold for if you’re gonna advance a project all the way through to production.

Just moving forward, of course, every mining company in the world today has to have social license. What I think is great about our company is that we focus on that first, so we made sure that we established a relationship with the local community. We make sure that they know what we’re up to. We have every year a community event. You can see here in the middle there, we’re showing them our drill core, making sure they understand we’re not producing. We’re in the early stages of exploration, but we do need their help. We use their labor as well. And just one final point on this slide, we only have one community, called the Sinavit Landowners Association, that we deal with. There’s not overlapping claims, so it’s much simpler here as opposed to some of the other projects that we have where we’re dealing with thirteen, fourteen, fifteen different communities with overlapping claims. So it’s made things a lot easier for us.

So zooming in, this is the main Wild Dog trend. And so we’ve identified to date on just the main zone and the north zone over 15 different targets. And this is from tracing the veins that we see on-site, doing rock chip sampling, prospecting, and IP mobile MT. And what we’re trying to do here is to showcase that the gold that we saw, which was mined previously at Sinavit in the center of the diagram right there, can be replicated across these different targets. So what we’re trying to do is show the scale rather than try to build out a resource immediately.

As you can see, our budget for this year consists of 13,000 meters of drilling across those seven different targets. We’ve already completed three of the different targets, Sinuite being the first. We completed that earlier this year, 3,600 meters across, I believe it was, 16 holes. Kawasuki, we recently just completed, different type of mineralization. Sinuite has very high grades, upwards of 50 grams per ton across narrow intervals, nine, ten meters. Kawasuki, on the other hand, had wider intervals, 60-plus meters with lower grade, two, 2.5 grams per ton. So just trying to show there’s lots of gold here, but what we’re trying to do is find where it is concentrated.

We also took a shot at Cassie Ridge. This is not really part of the program that we’re focused on. Cassie is more of a porphyry target, but we figured, we’re bringing in our second rig. It’s right at the top where the road intersects the main entrance to the project, and we figured, “Hey, let’s take a shot. Let’s drill a couple holes, see if we can hit something right off the bat.” Unlikely on porphyries, but it gave us a lot of very interesting geological information in addition to actually finding some gold. So again, this is not the focus of our program here, but it was just a way to showcase the potential porphyry upside on the project.

So as we advance, we’re gonna just keep systematically testing these targets. You can see the next ones that we’re drilling right now are Magabi and Mengmet. Each one, we’re drilling six to ten holes, 1,000 to 2,000 meters each. Again, just trying to replicate the gold mineralization that we’re seeing at Sinuite and Kawasuki.

This is a long section, a different way to view it. The north is to the right, south is to the left. And you can see, so Sinuite was our primary target earlier this year. This is the past producing operation, amazing drill results, 8.5 meters of 50 grams per ton, showing that there’s a high-grade chute down the middle. Kawasuki, 1.5 kilometers to the north of that. Again, broad intervals of lower grade material, but again, high-grade gold mineralization overall. What we’re trying to do with our drilling is to basically just fill in those gaps so that the entire screen that you’re seeing, this is approximately a five-kilometer section of the overall 15, showing that there’s gold in those different target areas. Later on, we’ll follow up. We’re either gonna do more infill drilling or, it’s also open to depth, so drill some deeper holes as well.

I’ll just quickly touch on each one of the different targets. Again, Sinuite was the first past producing operation. High-grade core to this. 18 holes drilled, 3,600 meters. What we wanna do here next is test the down-dip extensions of that center core, and also fill in the gap between Sinuite and Kawasuki. So that’ll be probably a 2027 target for next year.

Kawasuki, as I said, very interesting. Wider intervals, 58.2, 58 meters of 2.4 gram per ton materials. What we learned here was actually that the IP testing that we were doing was not correlating as well as we thought with gold mineralization. It was more pyrite. I don’t consider that a failure. I think that’s just part of the game. You’re learning how to zero in and figure out exactly what’s the source of the mineralization so you can apply that to further drill testing on the other projects. So again, for follow-up next year, this will be trying to infill drill and extend the mineralization across approximately 600 meters.

Magabi vein, we’re drilling that right now. We’ve drilled up almost 600 meters of a 2,200-meter drill program. There are potentially two different veins. What we’re trying to achieve here is, again, we’ve done some trenching on surface, 4.2 meters of 10 grams per ton, very high grade. Trying to find the extension of that at depth, but also find what is the orientation of the veins. Are they steeply dipping or are they tilted? So again, just trying to find the orientation to maximize the number of ounces for a potential resource down the road.

Mengmet also previously drilled, but we think they drilled in the wrong orientation, so we’re just gonna follow up with six holes, 1,400 meters. That’s underway right now. We’re almost through that program. And again, just trying to show scale here, potential for the entire 15-kilometer target.

And finally, in the furthest south part of our main zone is what we call the EK Zone. This is a quartz sulfide vein system. It’s been trenched, and we can see the anomalies that you’re looking at on our screen right here is from the mobile MT. And what we’re trying to do again is just try to correlate what we’re seeing in the geophysicals interpretations into what we see in the drill core, and try to drill out a similar type drill structure to Sinuite and Kawasuki.

Morgan Vein, this is one that it’s actually just sub-parallel to the Sinuite to the west. What we’re trying to do here is show that there’s either an extension of that main Sinuite vein in Kawasuki, which is just offset, or it could be a separate vein system entirely, which would be an amazing discovery. So just a quick six-hole, 1,400 meter drill program. We’ll be executing that lastly later this year.

And then finally, as we’re drilling our projects in the main zone, we’ve sent out crews to prospect in the South Zone, again here trying to follow up to see if we can find more outcrop on surface. Trenching’s coming up with very good results, five meters of 24. Upper chip samples as high as 75 grams per ton. And this is the future for us. Continue to show that there’s scale and scope to the entire 15-kilometer Wild Dog trend. I’m not a geologist, so I’m gonna just jump [laughs] through these quickly.

And finally, like I said before, when we drilled our Kawasuki… or sorry, our Cassie Ridge target, it was really just to maybe not prove that we had a porphyry deposit, but there’s definitely porphyry upside here. We believe that the source of the epithermal gold that we’re seeing on our Wild Dog trend is coming from some kind of engine here. So we’re trying to find various different porphyry centers. That’s just from when we go out into the field and do sampling. So this is what we’re saying is one corridor, two opportunities. The main focus is on the epithermals, but there’s significant porphyry potential on site that could be followed up in the future. And that’s really the major upside, but obviously a different risk profile entirely.

So why GPAC now? Like I said, we’re fully funded. We’ve got 22 million in the bank. We’ll spend about 10 million of that over the rest of the year. We’ve got lots of catalysts, two drills turning, continuous news flow, got a large land package, strong technical team, and we believe that we are set up for significant re-rating once we show the scale and potential of Wild Dog. Thank you very much for your time. If you got further questions, please reach out to us, info@gpacgold.com, our website. You can find this presentation there as well, www.gpacgold.com. Thank you for your time.

Awesome. Thank you, Alex. Do we have any questions from the floor? I might ask a few otherwise.

Sure.

The PNG Mining Minister recently announced sweeping reforms for the mining sector in country. Can you maybe elaborate on how that’s gonna affect you? It seems like a bit of a paradigm change in how they’ve approached things in the past.

Yeah. So for us, it’s very positive. So the changes that they’re talking about that impact Great Pacific are on the mining lease opportunities. So currently, it’s a two-year process. You get a license for two years, and then you have to renew and get another two-year extension. And what I think is happening right now is that there’s so many companies exploring in Papua New Guinea that that process is getting backlogged. So what they’ve stated publicly is that they’re gonna extend the mining leases to four-plus years so that we’re not just continuously doing paperwork. It just streamlines. For me, it just shows you that Papua New Guinea is trying very much to take mining seriously, and so that it becomes a much more attractive environment to invest in.

Awesome. And the second question, it’s pretty rare to see assets like this with sealed road, hydropower, infrastructure like you’ve got, and a port as well, particularly in the highland area of PNG. Maybe walk us through what it costs to do the exploration up there on a cost per meter basis.

Yeah. So we have excellent access. Like I said, we’ve got a paved road that goes right to site. So we brought in two drill rigs, drove it right to site. Deepwater port, so you can bring it right in at Rabaul, and it’s 50 kilometers from there. So we don’t need helicopters where we are, whereas in the highlands that tends to be a situation, and that can be problematic given weather conditions and what have you, and we’ve experienced those on our projects over there. But our cost all in per meter is under $300. And that’s variable. It depends on what your productivity is, and we had some challenges earlier in the year with rainfall and just the learning curve. But right now we’re getting very good productivity. Our cost is probably less than that right now, so, but on average, I would say about 300, which is very good.

Awesome, mate. Well, thank you.

Thank you.