# Download PFS Presentation Source Brief: https://evesgoldminers.com/research/source-briefs/thesis-gold-silver-inc-download-pfs-presentation-f73efc49 Original source: https://www.thesisgoldsilver.com/_resources/presentations/PFS-presentation.pdf EGM generated: 2026-09-27 Company: Thesis Gold & Silver Inc. (TAU) ## Use Note This is the Eve's Gold Miners normalized Markdown copy of an official or regulatory public source. It is provided for readability, search discovery, and research resilience. The original source remains authoritative for legal, regulatory, and investment decisions. ## Extracted Document Text # Download PFS Presentation Source: https://www.thesisgoldsilver.com/_resources/presentations/PFS-presentation.pdf Fetched: 2026-09-12T07:13:50.239+00:00 Source artifact: f73efc49-e871-467d-a76a-d31e9b18a3d8 Normalizer input: text ## Content # Download PFS Presentation THESISGOLD.COM December 1, 2025 Advancing the Lawyers-Ranch Gold-Silver Project PFS PRESENTATION TSX-V TAU | OTCQX THSGF | FSE A3EP87 DISCLAIMER AND CAUTIONARY NOTES FORWARD-LOOKING STATEMENTS This presentation contains “forward-looking information” including FOFI (as defined below) and financial outlook within the meaning of applicable Canadian securities legislation. Forward-looking information includes, without limitation, statements regarding the development of Lawyers-Ranch in the PFS, mineralized material processing, highlights of the PFS including the pre and after tax IRR, annual production rates, a range of potential gold prices, the extension of the operation of the mine life to 15 years, information respecting a Maiden Mineral Reserve statement, after-tax payback, capital expenditures at the Project, optimization of engineering design through a Feasibility Study, outlines of processing and production potential, the potential for further Project improvements including pre-concertation, crown pillar recovery, pit geotechnical optimization, construction and commissioning optimization, waste management and closure optimization, and potential mine life extension through reprocessing material characterized as waste and upgrading the classification of inferred ounces through additional drilling, projected mining operations under the PFS, information respecting a Mineral Resource Estimate and Mineral Reserve Estimate, capital and operating costs under the PFS, location of potential mining at the Project, mine design, processing, project infrastructure including new site access, permitting and studies including an environmental permitting and impact assessment process, and advancement of a Feasibility Study including collection of additional data for the Feasibility Study. Generally, forward-looking information can be identified by the use of forward-looking terminology such as “plans”, “expects” or “does not expect”, “is expected”, “budget”, “scheduled”, “estimates”, “forecasts”, “intends”, “anticipates” or “does not anticipate”, or “believes”, or variations of such words and phrases or state that certain actions, events or results “may”, “could”, “would”, “might” or “will be taken”, “occur” or “be achieved”. Forward-looking statements are necessarily based upon a number of assumptions that, while considered reasonable by management, are inherently subject to business, market, and economic risks, uncertainties, and contingencies that may cause actual results, performance, or achievements to be materially different from those expressed or implied by forward-looking statements. Although the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking information, there may be other factors that cause results not to be as anticipated, estimated, or intended. There can be no assurance that such information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking information. Other factors which could materially affect such forward-looking information are risks respecting uncertainties inherent to the conclusions of economic evaluations and economic studies, changes the parameters of the Project, including budget and schedule, uncertainties with respect to actual results of current exploration activities, delays in the advancement of the Project, including with respect to drilling activities, equipment availability and/or issues, labour force shortages, fluctuations in metal and foreign exchange rates, limitation on insurance coverage, accidents, lack of available capital to the Company, failure to obtain necessary regulatory approvals as the project advances, labour disputes and other risks of the mining industry, the ability of the Company and stakeholders to realize the anticipated benefits of the Project, delays in obtaining governmental approvals or in the completion of development or construction activities, opposition by social and non-government organizations to mining projects, unanticipated title disputes, claims or litigation, cyber-attacks and other cybersecurity risks and changes to tax regimes in the jurisdictions relevant to the Company and other risks described in the Company’s filings, including in the risk factors in the Company’s most recent management’s discussion and analysis, which are available on the Company’s profile on SEDAR+ at www.sedarplus.ca. The forward-looking information contained in this presentation also includes financial outlooks and other forward-looking metrics relating to the Company and the Project, including references to financial and business prospects, future results of operations, performance and cash flows including estimated NPV and IRR. Such information, which may be considered future oriented financial information (FOFI) or financial outlooks within the meaning of applicable Canadian securities laws, has been approved by management of the Company as of the date hereof. Such FOFI and financial outlooks are based on assumptions which management believes are reasonable as of the date hereof, having regard to the industry, business, financial conditions, plans and prospects of the Company, including the PFS. These projections are provided to describe the prospective performance of the Project and readers are cautioned such information may not be appropriate for other purposes. Such information is highly subjective and should not be relied on as necessarily indicative of future results and actual results may differ significantly from such projections. FOFI and financial outlook constitute forward-looking statements and are subject to the same assumptions, uncertainties, risk factors and qualifications above. The Company does not undertake to update any forward-looking information, except in accordance with applicable securities laws. QUALIFIED PERSONS AND NI 43-101 TECHNICAL REPORT The 2025 PFS for the Lawyers-Ranch Project summarized in this presentation was completed by Ausenco Engineering Canada ULC, Mining Plus Canada Ltd., Knight Piésold Ltd., P&E Mining Consultants Inc., pHase Geochemistry Inc., Frank Wright Consulting Inc., and SLR Consulting Ltd. and will be incorporated in a NI 43-101 technical report that will be available under the Company’s SEDAR+ profile at HYPERLINK "http://www.sedarpus.ca" www.sedarpus.ca, and on the Company’s website, within 45 days of December 1, 2025 (which was date of the Company’s news release announcing the results of the 2025 PFS). • Kevin Murray, P.Eng., Ausenco Engineering Canada ULC • Eugene Puritch, P.Eng., FEC, CET, P&E Mining Consultants Inc. • Yungang Wu, M.Sc., P.Geo., P&E Mining Consultants Inc. • William Stone, M.Sc., Ph.D., P.Geo., P&E Mining Consultants Inc. • Jarita Barry, P.Geo., P&E Mining Consultants Inc. • Brian Ray, M.Sc., P.Geo., P&E Mining Consultants Inc. • Peter Lock, Beng (Mining), Mining Plus Canada Ltd. • Rita Tsai, P.Eng., Equilibrium Mining Inc. • Frank Wright, P.Eng., F. Wright Consulting Inc. • Mark Alban, P.Eng., Knight Piésold Ltd. • Stephan Theben, Dipl.-Ing., SME RM, SLR Consulting Ltd. • Andrea Samuels, P.Geo., pHase Geochemistry Inc. DATA VERIFICATION The Qualified Persons responsible for the 2025 PFS and its related technical report have verified the data for which they are accountable, including the sampling, analytical, and test data underlying the information disclosed in this news release. Geological, mine engineering and metallurgical reviews included, among other things, reviewing drill data and core logs, review of geotechnical and hydrological studies, environmental and community factors, the development of the life of mine plan, capital and operating costs, transportation, taxation and royalties, and review of existing metallurgical test work. In the opinion of the Qualified Persons, the data, assumptions, and parameters used in the sections of the 2025 PFS that they are responsible for preparing are sufficiently reliable for those purposes. The technical report in respect of the 2025 PFS, when filed, will contain more detailed information concerning individual Qualified Persons responsibilities, associated quality assurance and quality control, and other data verification matters, and the key assumptions, parameters and methods used by the Company. NON-GAAP MEASURES Certain financial measures referred to in this presentation are not recognized measures under IFRS and are referred to as non-GAAP financial measures or ratios. These measures have no standardized measures under IFRS and may not be comparable to similar measures presented by other issuers. The definitions established and calculations provided by the Company are based on management’s reasonable judgment and are consistently applied. These measures are intended to provide additional information and should not be considered in isolation or as a substitute for measures prepared in accordance with IFRS. The non-GAAP financial measures used in this news release are: • Total Operating Costs and Total Operating Costs per Tonne Processed: Operating Costs are reflective of the cash cost of production. Operating Costs include mining costs, processing costs, water and waste management costs, and on-site general and administrative costs. Total Operating Costs per tonne processed is calculated as total Operating Costs divided by total LOM tonnes processed, excluding pre-production Operating Costs and tonnes. • All-in Sustaining Cash Cost and AISC per AuEq Ounce: AISC is reflective of all of the cash costs that are required to produce an ounce of gold from operations. AISC includes Operating Costs, treatment and refining costs, royalties, sustaining capital, expansion capital, and closure costs, less salvage credits. AISC per AuEq ounce is calculated as dividing total AISC by the LOM payable AuEq ounces. 2 TODAY’S AGENDA Speakers EWAN WEBSTER President & CEO CHARLIE KNILANS Engineer Lawyers-Ranch Overview & PFS Results Project Development & Economics Mine Design & Production Profile Next Steps & Timeline Q&A 3 LAWYERS-RANCH | TIER ONE PROJECT & JURISDICTION Recognized Mining Jurisdiction. BRITISH COLUMBIA District-Scale (495 km2) Land Position Telegraph Toodoggone Mining District, in Northern BC Creek Dease Lake Iskut Kwadacha Good Infrastructure in place. Lawyers-Ranch Road & air accessible year-round Tsay Keh Dene Close to hydroelectric energy tie-in Takla Landing Mackenzie Strong Project Economics1. Smithers Low Capital Intensity Low Operating Costs Prince George Rapid Payback Long Mine Life with Additional Upside Significant Exploration Upside. Potential to expand mine life through exploration. Recent discoveries highlight District Exploration Potential. Vancouver Strong Support from First Nations. Recent equity investment from Takla, Kwadacha & Tsay Keh Dene First Nations. 1 Refer to the news release dated December 1, 2025, entitled “Thesis Gold Announces Positive Prefeasibility Study for Lawyers-Ranch Project: After-Tax NPV5% of $2.37 Billion and 54.7% IRR.” 4 LAWYERS-RANCH | INFRASTRUCTURE N TOODOGGONE Road from Prince George DISTRICT Provides year-round access Road Sturdee Airstrip Power Line Provides flight access from Vancouver & Thesis Tenure RANCH SITE regional airports (Terrace, Smithers, Prince George) Baker Shasta | TDG Gold Corp. LAWYERS SITE Only 45km NW of Power Tie-in Short distance to the power grid at AuRORA | New Discovery Kemess Mine STURDEE Joy | Amarc Resources/Freeport-McMoRan AIRSTRIP Green Energy Hydroelectric Green Energy Sources Kemess Mine | Centerra Gold Favourable Topograp [Excerpt trimmed for readability. Open the original source for the complete filing or document.]