$PGLC / T.PGLC The PEA evaluates both Self and Contract open-pit mining options with heap-leach processing. Over the 5.8 year LOM, 513,000 oz Au are expected to be produced with average production of 88,500 oz Au/year. The NPV calculations listed below use a 5% discount rate and $1,250/oz Au.

The Self Mining option outlined in the PEA at $1,250/oz Au gives the Relief Canyon project a pre-tax NPV of $189 million. It estimates an average cash cost of $677/oz Au and AISC of $709/oz Au. Under this option Initial CAPEX would be approximately $22 million with Sustaining CAPEX of $15.8 million, and would produce a pre-tax IRR of 98% with pre-tax Net Cash Flow of $247.6 million.

The Contract Mining option outlined in the PEA gives the Relief Canyon project a pre-tax NPV of $159 million. It estimates an average cash cost of $772/oz Au and AISC of $804/oz Au. Under this option Initial CAPEX would be approximately $12.2 million with Sustaining CAPEX of $16. 6 million, and would produce a pre-tax IRR of 125% with pre-tax Net Cash Flow of $206 million.