Investments

Investment Overview

• Tickers: WHG-TSXV

• Shares issued and outstanding: 53.7 million (August 17, 2022)

• Market capitalization: C$26 million (August 17, 2022)

• Silvercorp ownership: 29.20%

Please refer to Whitehorse Gold's website and presentation for more information.

Company Highlights

Whitehorse Gold is advancing two prospective tin projects in Bolivia and its 100% owned Skukum Gold Project in the Whitehorse Mining District of Yukon.

Porvenir

• Option to acquire a 100% project interest

• ~65 km southeast of Oruro, west-central Bolivia

• 11.25 km² property containing historical near-surface open pit and underground workings

• Historically drilled by DOWA Mining—88 diamond drill holes totalling ~25,000 m. Highlights include:

  • PV-41 intercepted a 15.05 m interval (from 316 m to 331 m) grading 2.04% tin, 2.4% zinc, and 11 g/t silver

  • PV-01 intercepted a 6.05 m interval (from 191 m to 197 m) grading 2.27% tin, 3.23% zinc, and 13 g/t silver

• Plans to re-sample DOWA’s drill cores before initiating a drilling campaign

The Tin Project

• Option to acquire a 100% project interest

• ~65 km northeast of Bolivia’s largest tin mine, the Huanuni Mine

• 2.0 km² property subjected to small-scale historic mining

• Explored and drilled by Rio Tinto in 1999—7 diamond drill holes completed. Highlights include:

  • ESF001 intercepted a 236 m interval (from 125 m to 361 m) grading 0.41% tin, 1.12% zinc, and 15 g/t silver

  • ESF002 intercepted a 180 m interval (from 94 m to 274 m) grading 0.29% tin, 1.06% zinc, and 13 g/t silver, including a 56 m interval grading 0.58% tin, 1.86% zinc and 13 g/t silver

• Plans to twin two historical holes over the next three months

Skukum

• ~55 km south of Whitehorse (one-hour drive)

• Past-producing gold camp with existing infrastructure:

  • Produced ~80 koz of gold (1986 – 1988)

  • 300 tpd processing complex

  • +6,000 m underground development

  • 50-person camp

• District-scale property spanning 170 km², with three gold deposits and numerous drill-ready targets

• 336 koz indicated AuEq (@ 7.8 g/t) + 246 koz inferred AuEq (@ 6.9 g/t)

• 2021 drilling continued to upgrade and expand gold-silver mineralization at the three deposits

• Currently evaluating optimal development path