Vior Gold Corporation Inc.

So before I start, let's just start with the company's objective. When we joined the company eighteen months ago, me and our vice president of exploration, we had a goal, and in our mind it was to find a world-class gold deposit, which means between a three and five million ounce gold deposit. We're located in Quebec. We do explore in Quebec. And at the beginning of this year, we pivoted towards Lingueris, which is a project that the company had generated many years ago. In March, we did sign an agreement in order to acquire a package, a portfolio of properties from Agnico Eagle. At closing they'll become a 9.9% shareholder. We expect the closing to be around somewhere in the next month.

So let me talk to you about the different projects we've been advancing throughout the year. We have a discovery at Lingueris. But before I do so, let me just start by the end. We're fully financed. We have 26.7 million in cash and equity as of June 30th. We expect to finish the year at around 20 million. Next year's budget should be around 12 and 15 million.

So let's dive into the Lingueris project, which is located in Abitibi, roughly 100 kilometer north of Val-d’Or, a prolific gold camp. So we're looking at the property there. And one of the reason why we wanted to acquire a portfolio from Agnico Eagle is those small blocks of property in green. We wanted to consolidate the property block. We're looking at a district scale opportunity, more than 50 kilometer long, 53,000 hectares. And you can see here the result we had so far since we started the drilling. So we're pretty happy about it. We are up to 28,000 meters out of a 30,000 meter program, so expect additional results coming on in the next month or so.

And let me dive into more the full potential of it. As I mentioned already, it's a district scale opportunity. Felsic volcanic rocks, the same type of rocks and the same rock age as the Normetal formation that hosts the Amex Perron deposit 40 kilometers to the west. And by the way, it's also the same rock type that was hosting the Windfall deposit that we sold to Gold Fields for $2.2 billion in 2024. So with that in mind, we start the hunt. Let's say that.

So we work mostly the south zone at the bottom of that slide. We did a little bit of work in the center zone and no work at all in the north zone, but what we are chasing, what we thought it was, was some portion of a epigenetic gold deposit. And so we focus on the south zone. We expand the zone up to 1.2 kilometer long, down to 800 meter. But I'll tell you more about the thought process. And we're gonna continue next year to focus on the south zone because this is where it delivers the potential to build ounces quick. And this is where we had our discoveries this year. But as a district, there's other opportunities on the regional scale that we're gonna start to test moving forward next year as well. Because we want to demonstrate the market that not only at the deposit side we can increase, and by the way, it's not a deposit yet, but we can increase as well at the district scale.

So we did the mag. We did a lot of work. This one I won't talk about. But this one, it's quite interesting, and I think that's what the market didn't quite pick up. We released some results on September 1st. Those are in red on the left side of the slide. We obtained 6.4 gram over roughly five meters right at the contact between a mafic volcanic rocks that is represented on that slide by the I-MAG and the felsic volcanic rocks represented by the low mag, which was following up on an intersect 400 meters to the east that returned eight gram over four meters. So we really have a new discovery there with significant grade, significant continuity as well. And so right now that's what we're gonna continue to drill test.

Early on last year, we focused mostly on the center of those zones that you can see in the red, blue, and the green one. But lately we discovered the beige one on that slide. So as we were advancing the drilling, we didn't push those holes throughout that mag contact at the north. So which explain why some of those holes didn't reach out.

That one is a little bit crowded, but in terms of long section, this is what it looks like. But initially when we start the program, we wanted to test the former results. Because keep in mind that that project has been explored at surface in the first 200 meters throughout the years. But no one deemed to go at depth to test the full potential. And as we all know in Abitibi, the next discoveries are at depth. So that's what we did exactly. So at first we duplicate the original discovery. We obtained 35 over three, 22 gram per ton over three, and then we went down at 600 meter to show the vertical extension. So we had at 600 meter vertical 5.6 gram over four, and then we went down at 800 meters, and we obtained eight gram over four meters. And this is when we decided to go to the west in the hole that you can see here, the 26-038, where we obtained 6.4 over five.

But the key topic to understand there, we were not planning to do a 400 meter step out at the beginning. We were only planning to do roughly a 200 meter step out, but we end up, because of the deviation, doing a 400 meter step out. So it gives you an overview of the continuity of that new zone we discovered, because what are the odds that you're planning a hole 200 meter apart, and for whatever reason, you end up 400 meter away, and you're still hitting high-grade gold. So we were pretty confident, so we're gonna continue to infill that.

Here is a view on long section, and you can understand that this is what I just mentioned on a cross-section. A lot of these holes didn't reach that contact, didn't reach that base zone to the left. So that's what we're gonna do in the next couple of months. We're gonna sit down on those former holes casing and just push down these hole in order to test that new discovery. This is what the rock looks like. We have some visible gold. It's extremely silicified. And the purpose of these slides is just to show the great continuity. So the zones are pretty consistent, and we're pretty happy with what we have in terms of results.

Again, here, that's another section to the west. You can see same situation. The holes in blue are holes with pending assays still, and the other one were not pushed deep enough. Again, a nice slide here that shows the silica alteration. So it's not quartz vein, it's really silica alteration. And for more technical people, it might tell us that it's more synvolcanic in terms of origin, which speaks volume in terms of what are we chasing at. And again, so we were pretty successful expanding the mineralization.

And one of the analog that we're looking at, because I was mentioning felsic volcanic rocks, for non-technical people, what it means. So in terms of analog, we can refer to the Bouillon-Bousquet Laronde Camp, also in Abitibi. And on this slide, you can see in the red square what we explored so far this year at Langlois. But that's superposed into a long section showing more than 30 million ounces spread across 12 kilometers on that Bouillon-Bousquet Laronde Camp, which is a camp that is mostly operated by IAMGOLD and Agnico Eagle. One thing to notice there below that red square is the Laronde deposit. The Laronde deposit was the cornerstone asset of Agnico, explain why they were able, with this deposit, to acquire Canadian Malartic and Detour and so on and so forth, because that deposit was generating cash flow for them for years. And the point we're trying to make here is just it's a matter of scale. You look at what we've been doing this year, same type of environment or pretty similar, and what it could be. And we have more than 50 kilometers as opposed to 12 of favorable geology there. So we're pretty excited about that opportunity, about the results we had so far, and we're gonna continue. Expect next year the same amount of program.

So let me just talk to you about the Kinemik project. That's what's part of the acquisition we did from Agnico Eagle. Part of it was, we wanted to expose those shareholders to another district-scale opportunity. And let me show you the thinking behind that opportunity. So here you got a geological map, roughly. It's not a geological map, but a map showing all the gold occurrence in yellow in Abitibi. You can see the Val-d’Or camp in the south. And you can see up north the Casaberrardi Break. Casaberrardi just got acquired by OreZone. To the east, you have the Douay deposit owned by Maple Gold. And as you move to the east, you can see the name changed, but it's called the Cameron Break, and there was a consolidation of the ground there. So everything in red is the acquisition we made.

So we're pretty excited about that opportunity as well because it represent a district-scale opportunity along a structure that already carrying world-class gold deposits. So you can see on that map why we liked it. There's gold occurrence in so many types of lithologies. We already start drilling in the Cameron Main area, which is a shear zone, and on the Florence area, which is an intrusion-related occurrence. So we drill 8,000 meters, and we expect to release the results throughout this fall. And next year, probably 30% of our budget will go on to that project. Again, here you can see a surface map on what we've been chasing, and basically those are the drill hole we perform. Again, we wanted to explore at depth to show the vertical extent of this gold system. All these holes are completed.

And finally, the last one we acquired, also from Agnico Eagle. It's the property called Lonis, and it's nearby Amos, close to a small community called Taschereau. It's just south of Langlois. And what it is, is mostly a porphyry intrusion, eight kilometer by two kilometer long that exhibit that it's contacted shear zone that contains gold, but also that exhibit gold within the intrusion. So we start slowly on that one, checking all the data available. You can see some of those historical grade that we still need to double-check, and expect that next year we're gonna probably test around two or 3,000 meters. You can see we did the mag survey, and we found another intrusion to the east that seems to be the twin sister. So we're gonna explore that, but most of the focus will be, as I mentioned, on Lingris next year. So that's one of the picture I was mentioning, the disseminated pyrite within the intrusion, which could speak volume in terms of what it could end up being. It's the type of target that, if you look for an analog, it could be a Canadian Maratek.

So in terms of the corporate structure, I mentioned that earlier. As of June 30th, we were sitting on 26.7 million. And we have a really great group of shareholders that supports us since we joined eighteen months ago. And as I mentioned, we're fully financed. And if you're looking for an opportunity, you just do the calculation between our market cap, which is, I believe, below 40 million, and our cash position, so that gives you roughly the opportunity. And again, we have a pretty strong board of professionals and a strong technical team that we need to execute our vision and plan.

So that's about it. We're located in Quebec, which is a safe jurisdiction with great group of supporting funds as well located there. And obviously a jurisdiction that supports its entrepreneur. So again, those are the catalysts that we had this year. Almost completed the program at Lingris. We're gonna continue to advance probably the same size program next year at Lingris. Continue to advance the program 15,000 meters at Kinebek. We're gonna do a little bit of exploration at Lonis. And of course, we already add the district-scale opportunity to the portfolio. So basically, that's it. You can download all our technical presentation on our website. So thank you.

Okay. Thank you. Thank you, Mathieu. Any question from the room?

Can you just explain what Agnico's thoughts were on moving these properties to you and what their view was on these properties and how they're viewing you to explore them going forward?

All right. So most of these properties were part of the O3 Mining acquisition. So basically, they acquired O3 for mostly Marban deposit close to Canadian Maratek. And given their current stage, they were pretty early stage, and their hands are quite full, I guess they ran into a bidding process. And in our view, we wanted to offer that. And I guess they like the team, they like our track record in finding world-class gold assets in Quebec. So they entrust us. They kind of choose us through that bidding process to do the exploration on that package. But keep in mind, for us, that was key to consolidate Lingris, which is our key asset, and to offer. So it check all the box, I would believe, for both corporations.

Can you give him the mic? [laughs]

And when did Goldfields get involved?

Gold Fields was not involved in that transaction. As you know, they inherited the Osisko position in equity at ninety-nine. But I believe, in their sense, they're quite supportive as well. So we work with everybody, and every shareholders are quite supportive of what we're doing. They see us going with either Windfall discovery or prior to that in our first life in the Eleanor discovery. So I guess they know what we're capable of, and they'll see. But it's nice to have competitive tension in the share structure.

Any more question from the room?

So just mention the Lingris very close to Windfall, and you had some high grade return from nine hundred and a thousand depth. And what does the geology tells you? And does it remind you of Windfall, and what kind of potential is in it?

Some of the characteristic we've seen at Lingris reminds us of Windfall, even though it's quite different. But in terms of genetics, I guess they're still working on the genetic model. And so they're all different, but they certainly share the similarities with respect of the nature of the alteration and as well the host rock. So yeah, there's a lot of similarities. So far, we didn't reach the grade that we had on Windfall, which were spectacular. But we still managed to hit nice high grade intervals, and we're pretty happy about it.

And you're going to have 45 kilometers of total drilling program for next year. Are you fully financed for all of them? And what are the next steps to get to a maiden resources for any of those?

So I guess the next step is another 30,000 meters, and I guess that will be the measure of success. If we expand it next year, that would mean that we're on the right path to increase something significant. With respect to resource, it's early days. You can do your own estimations on a piece of paper. But we got something we're sitting on, but it's just a matter of expanding it. And we're not necessarily on a rush to put out a resource because our objective is clear. It's between three and five. I don't believe we would put something before that. But again, the market will dictate how fast we can do this.

Okay. That's great. Thank you, Mathieu. Thank you. Okay. Next up, next