North Peak Resources : Prospect Mountain - June 2024

Prospect Mountain

The centre of Eureka's re-emerging polymetallic mining camp in Nevada

Historic camp gold production 3 million ounces +

Forward Looking Statement

This presentation (the "Presentation") and its contents are the property of North Peak Resources Ltd. ("NPR", "North Peak", "North Peak Resources" or the "Company").

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 year ended December 31, 2023 and the period ended March 31, 2024 and the Management Information Circular of the Company dated May 5, 2023, available at www.sedarplus.ca.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 properties referenced herein or any underlying property agreements.

2

North Peak's Founding and Company Overview

• Following the success of Kirkland Lake Gold (Ontario) and Rupert Resources (Finland), North Peak was launched in 2021 to target mining opportunities in Nevada and America's West. Former producing properties in historic mining districts have been examined for potential geologic resources that can support a low cost, long-life mining operation.*
• Management/founders Brian Hinchcliffe, Mike Sutton and Harry Dobson have experience in the challenges of mine restarts timed to the leveraging industry metal price cycles and believe a new gold market is underway.
• Company goals are to acquire such a prospective property while minimizing share dilution to permit strategic exploration and given current cost and inflation trends the focus is on high grade opportunities

CAPITAL STRUCTURE

	Shares Outstanding	30,157,178
	Warrants (at CAD$1.34/shr)	340,000
	Options	2,550,000
	Market Cap (at $0.72 CAD)	CAD$21.7 mln
	Debt	Nil
	Cash Position (As of 31 Mar 2024)	CAD$4.1 mln
	Ticker	TSXV: NPR
Shareholding
		Management
		Strategic Investors
		& Institutional
		Other

• * The Company can give no assurances at this time that its properties and interests will fulfil the Company's business development goals described herein. Trading in the securities of the Company should be considered highly speculative.

Prospect Mountain - An Exploration Property with Significant Historic Mining Activity

• NPR acquired an 80% stake in Prospect Mountain in Summer 2023
• The property has significant mining history spanning over 150 years with 11 miles of underground tunnels and 4 shafts and within a mining camp that was a significant wealth creator for the region
• Family-controlledsince 1979, the property has had very limited modern exploration or mining activity
• Although a Plan of Operations in place for 1,000 tpd mining the property had

• NO 43-101
• NO Geophysics
• Limited geochemistry (Homestake campaign in 2001 over 2/3 of property)
• Limited drilling (10,000m drilling, of which 8,400m was in a single prospect area)
• NO Resource & Reserves
• Historic model was focused solely on a Carlin gold and silver model

• For full details see "NI 43-101 Technical Report on the Prospect Mountain Property. Eureka County, Nevada, USA" dated and effective April 10, 2023, prepared by
  4 David Pym (MSc, Cgeol) and Dr. Toby Strauss (Cgeol, EurGeol) (the "Technical Report") on the Company's website or under its SEDAR+ profile at www.sedarplus.ca.

The First Year - Significant Progress

• Low cost property acquisition completed
• 43-101technical report completed bringing together all significant history of the property
• Fault & structural mapping identifying new zones of interest
• Lidar of main tunnels undertaken highlighting 3D locations of stopes and structures
• Multiple geophysics were completed across the property that reinforce Carlin & CRD potential with a 2km anomaly identified directly underneath historical workings.
• Completed comprehensive soil sampling over the whole property to develop an exploration model with several new target areas identified including Carlin & CRD type mineralisation over a 3km strike
• Capital investment in the site- electricity to the site, construction of core shed & office, water tanks etc
• First drill hole from operationally efficient location to confirm anomaly

Significant progress in identifying & unlocking full multi mineral system potential of property

5

Extending the Potential of Property

Water table

Geophysics identified anomaly underneath workings	Soil sampling identified both Carlin & CRD
that matched up with surface CRD anomaly	style mineralisation over a 3km strike

6

PM 23-01: First Hole Into MT Anomaly

Drilling from Portal - most operationally efficient area

Shallower, no marbleization, more oxidation, more Pb, Ag

Chimney from 3026-3036 feet (922.4-925.4 m): including 9.5% Zn, 221.6g/t Ag, 0.8%

Cu, and 0.3% Pb over 3.3 ft @ 3028.8-3032.1 ft (1.0m @ 923.3-924.3 m)

• Silicified marble and pyrite-sphalerite rich CRD
• Overprinted hydrothermal breccia
• Dendritic growth of pyrite might imply quenching (rapid cooling)

Confirms sulphides mostly likely cause of 2km MT anomaly Deeper, marbleization, less oxidation, more Zn, Cu

7 * See Company's February 12, 2024, press release.

Summer 2024 Activity

• Drill key accessible exploration targets
• • Heart of surface CRD mineralisation - Prospect Mountain North o Verify & extend historic drilling of Wabash area
    o Williams Mine/ Duke Banner Fault corridor o Industry Tunnel - Fault corridor
  • High grade Carlin - Prospect Mountain East

• 1. Historic Homestake holes
• Gain greater understanding of structural controls of mineralisation through surface and underground mapping
• • Looking to identify similar controlling structures to I-80's neighbouring properties. Hilltop & Blanchard faults (Archimedes) and the Ruby Hill fault (FAD)
• Explore and evaluate multiple other opportunities across the property
• • Evaluate underground access
  • Instigate permitting & access to other key areas on West side of Prospect Ridge

8

Prospect Mountain Replicates Mineralised Structures in Other Parts of Camp

Eureka Mining Camp Long Section

NPR Drilling target areas 2024

Historic/Mined Existing Potential

CRD mineralisation - Au, Ag, Pb, Zn Carlin mineralisation - Au

Wabash Williams etc

MineralPoint

Rubydeeps

Archimedes

Deadbroke DMEA etc	fault
Big Cave etc	Jackson

4th July

Prospect Mountain: North Peak

Historic mines averaged 0.6 oz Au, 23 oz Ag, 18% Pb

	FAD
	FAD
RubyHistoric	fault
Jackson
Hill

Historic Ruby Hill / FAD: I-80

Historic Ruby Hill was estimated to be 1.5 Mt @ 1 oz Au, 27 oz Ag 17% Pb (1880-90)

FAD no resource estimate yet.

Hilltop

splay	splay
-
-	fault
fault	Jackson
Jackson

Archimedes/Hilltop/ Ruby Hill: I-80

Mineral Point + Ruby Deeps + Archimedes = Au > 6M oz's

Ruby Deeps resource 1.6Moz @ 6g Au

No resource yet for Hilltop

• For full details see the Technical Report on the Company's website or under its SEDAR+ profile atwww.sedarplus.ca.

Prospect Mountain North

• Wabash on western side of Prospect Mountain ridge in the North section of property - only area with systematic historic drilling - 94 vertical holes done in Grid system by EPAR in 2001 (gold price was $450) totalling 8,417m (27,615 ft)
• Best historic drill intersection of 80ft (24.3m) @ 8.24g/t Au & 22.6 g/t Ag
• Historic wireframes thought to be incorrect and now understand steeper zones
• Drilling seeks to confirm historic grades and revised interpretation

Historic Interpretation of Wabash drilling.

Revised interpretation of zones

Hole	From	To	Interval	Interval	Au g/t	Ag g/t
	(ft)	(ft)	(ft)	(m)
PM-W-11	0	50	50	15.24	4.08	59.92
PM-W-12	0	70	70	21.34	4.52	34.98
PM-W-13	0	40	40	12.19	2.98	38.74
PM-W-52	330	370	40	12.19	3.09	8.86
PM-W-55	250	265	15	4.57	6.93	189.9
PM-W-92	145	225	80	24.38	8.24	22.61

Historic EPAR drilling data * See the NI 43-101 Technical Report

Proposed drill holes

• Historic drill collars

Underground tunnels

Faults

Plan of historic Wabash drill collar locations and proposed drill holes

in Prospect Mountain North

Silver Connor Tunnel

Revised interpretation from shallow to steeply dipping mineralisation. Silver halos indicate proximity to further gold

10 For full details see the Technical Report on the Company's website or under its SEDAR+ profile at www.sedarplus.ca.