Bravada Gold Corporation · TSXV:BVA
Bravada Gold — Investor Presentation (November 2026)
36 slides from Bravada Gold's investor presentation, Nov 4, 2026
Slide 1: Wind Mountain — a Simple Path to Near-Term Gold Production in Nevada
BVA.TSX-V Wind Mountain — a Simple Path to Near-Term Gold Production in Nevada BGAVF . OTCQB) Investor Presentation • November 2026 Bravadagold.com 1
Slide 2: Disclosure & Cautionary Statements
DISCLAIMERS BVA.TSX-V Disclosure & Cautionary Statements Some of the statements contained in this presentation may be deemed “forward-looking statements.” These include estimates and statements that describe the Company’s future plans, objectives or goals, and expectations of a stated condition or o
Slide 3: Why Invest?
INVESTMENT HIGHLIGHTS BVA.TSX-V Why Invest? Near-term catalysts. Long-term value. Simple Brownfield Gold Project in Strong PEA Economics @ US$3,600/oz 1 2 Nevada Gold Wind Mountain oxide heap-leach project with US$415M (C$593M) NPV(5%), 60% after-tax IRR, great existing infrastructure and a very low
Slide 4: Corporate Snapshot
CORPORATE OVERVIEW BVA.TSX-V Corporate Snapshot $0.70 $20.1 M $1.7 M 29.2 M SHARE PRICE 1 MARKET CAP 1 CASH 2 SHARES O/S 1 CAPITAL STRUCTURE IN-THE-MONEY (STRIKE $0.40) OWNERSHIP Insiders 5% Shares Outstanding 29,108,736 Item Expiry Number Value Strategic & Options Outstanding 2,634,375 Warrant 07-N
Slide 5: Bravada: A Company Rebuilt for Value
CORPORATE OVERVIEW BVA.TSX-V Bravada: A Company Rebuilt for Value Five deliberate steps from overlooked asset to focused Nevada gold developer 1 2 3 4 5 IDENTIFY RECAPITALIZE REBUILD REFOCUS EXECUTE Value Identified Recapitalized Team Refreshed Focus Realigned Focused Execution Saw the untapped valu
Slide 6: 2026 PEA Highlights
WIND MOUNTAIN BVA.TSX-V 2026 PEA Highlights US$415M 60% 2.0 yrs 11.2 yrs US$139M 0.20:1 After-tax NPV (5%) After-tax IRR Payback Mine Life Total Project Capital Strip Ratio (US$) 1 Production Profile 2 Capital Summary 3 Resource Base 40.7 koz Au and 280 koz Ag average US$98.1 M initial capital plus
Slide 7: New Claims Enable Full Heap Leach
WIND MOUNTAIN BVA.TSX-V New Claims Enable Full Heap Leach Old Claim 330% Larger Heap Leach Boundary 2026 PEA 2022 PEA Heap Heap 01 02 2022 PEA New Claims Added Heap Leach constrained Recently dropped claims to 27 million tonnes due staked in August 2026 Added to area constraints Claims Pit 03 04 202
Slide 8: Significant Leverage to Gold & Silver Prices
WIND MOUNTAIN BVA.TSX-V Significant Leverage to Gold & Silver Prices NPV 5% (US$ M) Gold Price (US$/oz) IRR % Payback (Yrs) $3,000 $3,600 $4,000 $4,500 $5,000 $253 $407 $506 $630 $754 $40 43% 59% 69% 81% 93% 2.35 2.02 1.78 1.56 1.40 $272 $415 $520 $644 $767 Silver Price (US$/oz) $48 44% 60% 70% 83%
Slide 9: 2026 PEA: Robust Economics at US$3,600 Gold
WIND MOUNTAIN BVA.TSX-V 2026 PEA: Robust Economics at US$3,600 Gold Base Case Metric $415M (US$3,600/oz Au, US$48/oz Ag) PROJECT ECONOMICS US After-tax NPV (5%) US$415 M After-tax NPV(5%) · 60% IRR After-tax IRR 60% Payback 2.0 years PRODUCTION PROFILE Wide Margins at Spot Prices Avg. Annual Gold Pr
Slide 10: 2026 PEA: CAPEX Summary
WIND MOUNTAIN BVA.TSX-V 2026 PEA: CAPEX Summary Metric Estimate Direct Capital Cost US$67.8 M US $139.0M Indirect Capital Cost US$13.9 M Total Project Capital Contingency (~20%) US$16.3 M Total Initial Capital Cost US$98.1 M Modest, Phased Capital Sustaining Capital US$41.0 M • Initial capital funds
Slide 11: 2026 PEA: OPEX Summary
WIND MOUNTAIN BVA.TSX-V 2026 PEA: OPEX Summary Metric Estimate Contractor Mining Cost US$3.52/t mined US$4.21/t stacked US $1,653 /oz Owner Mining Cost – General Services US$0.23/t stacked All-in Sustaining Cost (AISC) Processing Cost US$3.33/t stacked G&A Cost US$0.55/t stacked Cost Leadership Recl
Slide 12: 2026 PEA: Pit-Constrained Resource
WIND MOUNTAIN BVA.TSX-V 2026 PEA: Pit-Constrained Resource 2026 Resources Constrained in a US$3,100/oz Gold Price Optimized Pit1,2 Category Cutoff Tonnes (M) Au (g/t) Ag (g/t) AuEq (g/t) Au (oz) Ag (oz) AuEq (oz) Indicated Variable 56.0 0.32 8.51 0.35 574,400 15,325,000 623,700 Inferred Variable 40.
Slide 13: Prime Location
WIND MOUNTAIN BVA.TSX-V Prime Location Located in Northern Nevada Hog Ranch • Consistently ranked within the top 10 gold jurisdictions in the Hycroft Marigold (SSR) world to explore and mine by the Canadian Fraser Institute Turquoise Ridge (Barrick) Florida Canyon (Integra) • Straightforward regulat
Slide 14: Simple, Compact Site
WIND MOUNTAIN BVA.TSX-V Simple, Compact Site A single, contiguous footprint Waste Breeze 01 02 Pit Breeze Pit and Wind Pit Heap leach pad located sit side by side directly adjacent to the pits Heap Leach Wind Pit 03 04 Existing gold bearing Compact layout keeps waste dumps and haul distances short a
Slide 15: Exploration Upside
CATALYSTS BVA.TSX-V Exploration Upside 2,300 m 2026 drill program underway Breeze/Wind Extension North Hill Target DRILLING PROGRAM Target 31 holes Historic waste dump tests 7 to 30 m depth Waste Dumps Target Silver Vent Target 16 holes Resource expansion holes 60 to 210 m depth; most extend the dum
Slide 16: PFS — H2 2027
WIND MOUNTAIN BVA.TSX-V PFS — H2 2027 Three workstreams converging on a Pre-Feasibility Study in H2 2027 01 Expanded Resource 02 Updated Metallurgy 03 Refined Engineering • Incorporates the 2026 drilling program • Metallurgical program planned for • Optimized mining plan now underway and additional
Slide 17: Heap Leach Developer Benchmarking
WIND MOUNTAIN BVA.TSX-V Heap Leach Developer Benchmarking Wind Mountain shows a strong profile relative to developer peers when adjusting for strip ratio. LOM Avg. Production Stacked Grade(1) Tonnes Moved per Gram(2) Market Capitalization Strip Ratio (koz AuEq3) (g/t AuEq3) (Tonnes/g AuEq3) (C$M) Sa
Slide 18: Heap Leach Producer Benchmarking
WIND MOUNTAIN BVA.TSX-V Heap Leach Producer Benchmarking Adjusting for Strip Ratio, Wind Mountain’s mining requirement compares favourably against operating heap-leach producers. Tonnes Moved per Gram(3,4) 2025 Production (koz AuEq)(1,2,4) Stacked Grade (g/t AuEq)(2,4) Strip Ratio (w:o)(2) (Tonnes/g
Slide 19: Nevada Exploration Properties
CATALYSTS BVA.TSX-V Nevada Exploration Properties Highland Shoshone Pediment Advanced Exploration Development / Royalty High-grade “Midas”-style veins, open for BVA holds a royalty on 2 permitted barite open expansion under sinter and shallow cover. pits, now held by I-80 Gold. Shoshone Pediment Win
Slide 20: Timeline
CATALYSTS BVA.TSX-V Timeline Value-Driving Catalysts Over the Next 12 Months Q3 2026 Q3 2026 Q4 2026 Q2 2027 H2 2027 ✓ PEA Update ✓ Drill Program Launched Drill Results/ Met Program Met Results Pre-Feasibility Study Completed with current 2026 drill program Drill results released Metallurgical test
Slide 21: Appendix – Other Projects
APPENDIX Appendix – Other Projects Bravadagold.com 21
Slide 22: Baxter – JV earn-in option by Endeavour Silver
APPENDIX – OTHER PROJECTS BVA.TSX-V Baxter – JV earn-in option by Endeavour Silver Geology Capping Basalt • Paleosurface-level, low-sulphidation Au-Ag-rich system hosted by felsic and andesitic volcanic domes, tuffs, sediments and breccias capped with areas of preserved Sinter Target sinter. Explora
Slide 23: Highland – Targets identified
APPENDIX – OTHER PROJECTS BVA.TSX-V Highland – Targets identified Geology • Paleosurface-level, Low-Sulphidation Au-Ag-rich system Cabin hosted by felsic and andesitic volcanic domes, tuffs, sediments and breccias. Capped by a large, preserved sinter Geyser Target field. Target Exploration • Several
Slide 24: East Walker – Look-alike geology to giant Silicon/Merlin discovery
APPENDIX – OTHER PROJECTS BVA.TSX-V East Walker – Look-alike geology to giant Silicon/Merlin discovery Geology • Paleosurface-level, Low-Sulphidation Au-Ag-rich system hosted by felsic Kgr and andesitic volcanic domes, tuffs, sediments and breccias. Capped by a Kgr large, preserved sinter field and
Slide 25: East Manhattan – Extension of an historic camp with renewed interest
APPENDIX – OTHER PROJECTS BVA.TSX-V East Manhattan – Extension of an historic camp with renewed interest Scorpio property BVA property Geology • High-grade gold values in a complex vein system along the southern margin of the large Manhattan Caldera Complex. Mineralization, at 16 Ma, overprints cald
Slide 26: Gabel – Intersection of two Carlin-type Au structures
APPENDIX – OTHER PROJECTS BVA.TSX-V Gabel – Intersection of two Carlin-type Au structures along the BM-Eureka trend Historic drill holes with Webb/Wenban > 0.25 g/t Au intercepts Geology NOTE fold nose of contact • NNE and NW mineralized fault zones intersect at a fold nose defined Devils Gate/Horse
Slide 27: SF/HC – Overlapping BM-Eureka and Northern Nevada Rift Gold Trends
APPENDIX BVA.TSX-V SF/HC – Overlapping BM-Eureka and Northern Nevada Rift Gold Trends Geology • BVA’s 2019 recon drill holes intersected excellent Devonian-age host rocks repeated in multiple thrust sheets with thick zones of anomalous, but subeconomic, gold grades. Proximity to Nevada’s largest and
Slide 28: Potential Royalties – Barite in Nevada, Orogenic gold in Ontario
APPENDIX – OTHER PROJECTS BVA.TSX-V Potential Royalties – Barite in Nevada, Orogenic gold in Ontario Shoshone Pediment is part of the Scruffy barite deposit, located in an area overlapping a Drayton is an Archean gold project in Ontario, Canada. Bravada holds a 1% NSR royalty producing Nevada barite
Slide 29: Appendix
APPENDIX Appendix Bravadagold.com 29
Slide 30: Management, Board & Advisors
APPENDIX BVA.TSX-V Management, Board & Advisors Dr. Paul West-Sells Lawrence Page, K.C. Russell Ball, CPA (USA) and CA (SA) President, CEO & Director Chairman & Director Advisor 30 years' mining experience; former President & CEO of Western Director/officer of companies that discovered and built sev
Slide 31: 1 Year Share Price Performance
APPENDIX BVA.TSX-V 1 Year Share Price Performance C U RRE N T $0.99 as of Sep 10, 2026 5 2 -W E E K H I GH $1.31 5 2 -W E E K LOW $0.24 1 -Y E A R C H A N GE +245% approx. Bravadagold.com 31
Slide 32: 2026 PEA: Capital Summary
APPENDIX BVA.TSX-V 2026 PEA: Capital Summary Capital Expense (stated in K USD) Initial Sustaining Total DIRECTS Mining $24,071 $391 $24,462 Process Plant $22,245 – $22,245 Leach Pad & Ponds $12,609 $26,546 $39,155 Owners $6,833 – $6,833 Infrastructure $2,050 – $2,050 Total Directs $67,807 $26,937 $9
Slide 33: 2022 PEA vs. 2026 PEA: By the Numbers
WIND MOUNTAIN BVA.TSX-V 2022 PEA vs. 2026 PEA: By the Numbers 2022 PEA 2026 PEA ▲ +802% ▲ +58% ▲ +167% ▲ +113% ▲ +158% ▲ +852% US$415M 60% 11.2 yrs 454 koz 3.1 Moz US$593M 38% 213 koz 4.2 yrs 1.2 Moz US$46M US$62.3M After-tax After-tax Mine LOM Gold LOM Silver LOM Cumulative NPV (5%) IRR Life Produc
Slide 34: Resource
APPENDIX BVA.TSX-V Resource 2026 Resources Constrained in a US$3,100/oz Gold Price Optimized Pit Category Cutoff Tonnes (M) Au (g/t) Ag (g/t) AuEq (g/t) Au (oz) Ag (oz) AuEq (oz) Indicated Variable 56.0 0.32 8.51 0.35 574,400 15,325,000 623,700 Inferred Variable 40.0 0.15 5.37 0.16 192.400 6,902,000
Slide 35: Notes
APPENDIX BVA.TSX-V Notes 2026 Updated PEA • News Release dated August 31, 2026 • Michael S. Lindholm, C.P.G. and Kyle Murphy, PE, of RESPEC Company LLC., and Jeffrey Woods, SME QP, of Woods Process Services LLC, independent “qualified persons” as defined by National Instrument 43-101 – Standards of
Slide 36: Contact
Contact Dr. Paul West-Sells President & CEO [email protected] +1 (604) 641-2759 bravadagold.com TSX.V: BVA Bravadagold.com 36